For the first time ever, the average price for a litre of gasoline in Canada has surpassed $2.
Natural Resources Canada says the average price across the country for regular gasoline hit an
all-time high of $2.06 per litre.
The average price represents a nine-cent jump from the $1.97 per litre record set last week and
is up 30 cents a litre since mid-April.
Prices now average $2.34 a litre in Vancouver, while in Toronto the average is at $2.09 per litre.
Edmonton, in contrast, averaged just under $1.69 per litre for the lowest prices at the pump in
Canada.
Gasoline prices have been elevated since late February when oil spiked to around $100 U.S. a
barrel after Russia invaded Ukraine. Oil prices jumped to over $110 U.S. per barrel last week.
Prices have also been spiking more recently as Canada’s economy reopens, and with the start
of the busy summer travel season. Refiners across Canada say they have limited capacity to
meet the current demand for gasoline.
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