Rising diesel prices could see cost of food go up 30 to 35 per cent: petroleum industry analyst

CP24: 'The rising cost of diesel could ultimately inflate food prices by 30 to 35 per cent, compounding Canada’s inflation woes.'

'At least that is the take of one petroleum industry analyst.

'Ontarians have seen gasoline prices rise to record levels in the wake of Russia’s decision to invade Ukraine with the average cost of a litre of fuel expected to rise even cents to $1.67.9 across the GTA as of midnight tonight. It is then expected to go up another seven cents to $1.74.9 a litre just 24 hours later....'