Montreal sees another sharp rise in gasoline prices on Monday to $1.56 per litre
Another sharp increase in gasoline prices occurred Monday in the Montreal metropolitan area.
Most gas stations in Montreal, Laval and Montérégie were charging $1.56 for a litre of regular gasoline, according to a statement from the website www.essencemontreal.com.
However, the price remains lower outside the Montreal area. The average price for a litre of regular gasoline across Quebec was just under $1.53.
Just ten days ago, data from Natural Resources Canada showed that the national weighted average retail price of regular gasoline in Canada had reached $1.45 per litre of regular, an increase of more than $0.40 from last year. This was the highest weekly average on record, according to gasoline price consulting firm Kalibrate, which has collected this data since 2007.
In New York, the price of a barrel of crude oil was $83.51 USD Monday morning, up $1.23 USD. The price of a barrel has jumped 70 per cent so far this year.
A dozen years ago, when a litre of regular gasoline was selling for about $1.50 in the Montreal area, the price of a barrel was trading at about $150 USD in New York.
Soaring gasoline prices not only mean significant additional expenses for motorists but also increased shipping and delivery costs for businesses of all types.
-- This report by The Canadian Press was first published in French on Oct. 18, 2021.