Gasoline prices are showing no signs of letting up as the average price in Canada tops $2 a litre for the first time. Natural Resources Canada says the average price across the country for regular gasoline hit $2.06 per litre on Monday for an all-time high.
Highlights
- Natural Resources Canada says the average price across the country for regular gasoline hit $2.06 per litre on Monday for an all-time high.
- The average was a nine-cent jump from the $1.97 average set last week, and is up about 30 cents a litre since mid-April.
- Prices have been elevated since late February when oil spiked to around US$100 a barrel after Russia invaded Ukraine, while the price jumped to over US$110 per barrel last week.
- The reopening of the economy, and the start of the busy travel season, have led to high demand for gasoline that refiners have limited capacity to meet.