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Gas prices could hit $1.70 per litre by summer, impacting local businesses

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Experts say the record high prices at the pumps could go even higher, hitting $1.70 per litre by July.

The climbing numbers at the pumps have Kyle Lethbridge thinking twice about how he gets to work.

"There are a lot of guys at the company I work for that live in the same area, so I believe we are going to try and carpool."

In the past two days, prices have jumped to new highs, and experts say any decreases won't last.

On Monday, Dan McTeague, the Canadians for Affordable Energy president, told CTV News that high demand and tight supply were factors to the record high prices.

Leaving local businesses feeling the pinch.

"It really hurts us, especially this year. Fuel prices were bad last year, and again this year," said Nick Golow, TNT Service Plus Inc. service manager.

Golow said the price increase impacts the landscaping maintenance company's bottom line.

"It's rare that we can get a fuel surcharge to our customers without potentially losing them, so fuel is one of those budgets that we just don't know where it's going to be, and it really does it hurts."

The increase also affects other businesses, like Jimmy Chew's Pizza, that are already dealing with rising food prices.

Erin Burrows said the rising costs drive prices on everything, including pizza delivery charges.

"The public just has to understand, it's the cost of inflation, and we want our drivers to make a living wage."

McTeague pointed to a weak Canadian dollar and a shift towards green energy as other factors driving up the prices at the pumps.

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