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Bank of Canada governor

Bank of Canada governor Mark Carney said the current escalation in oil prices means consumers in the East are paying more for fuel and energy producers in the West are earning less than would be expected. And he is increasingly concerned about the possible impact of the increase on the economy even though Canada exports crude and producers realize greater profits from higher prices. “As a whole, higher oil prices are a net positive for the Canadian economy,” Carney said during an interview.

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Meanwhile, Metro with vehicles fueled mostly by compressed natural gas and electricity has said it also will raise rates next year. Metrolink raising fares While Metrolink will raise fares for commuter rail service an average of 5.5 percent starting Tuesday, officials already are saying they may have to boost rates even further next year. Despite a 16.6 percent increase in riders on Metrolink trains this year, the surge of patronage does not cover soaring fuel prices, said spokeswoman Denise Tyrell.

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