Average price for gasoline in Canada tops $2 a litre for first time & More News Here

Gasoline costs are exhibiting no indicators of letting up as the common price in Canada tops $2 a litre for the first time. Natural Resources Canada says the common price throughout the nation for common gasoline hit $2.

Gasoline costs are exhibiting no indicators of letting up as the common price in Canada tops $2 a litre for the first time. 

Natural Resources Canada says the common price throughout the nation for common gasoline hit $2.06 per litre on Monday for an all-time excessive.

The common was a nine-cent bounce from the $1.97 per litre report set final week, and is up about 30 cents a litre since mid-April. 

Prices averaged about $2.34 a litre in Vancouver on Monday, whereas in Toronto the common was virtually $2.09 per litre. Edmonton, in distinction, averaged slightly below $1.69 per litre.

Gasoline costs have been elevated since late February when oil spiked to round US$100 a barrel after Russia invaded Ukraine, whereas the price jumped to over US$110 per barrel final week.  

Prices have additionally been spiking extra just lately because the reopening of the financial system, and the beginning of the busy journey season, have led to excessive demand for gasoline that refiners have restricted capability to satisfy.

This report by The Canadian Press was first printed May 17, 2022.

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