Average gas price tops $2 a litre in Canada for the 1st time

The average gas price in Canada is $2 per litre, and it shows no sign of slowing down.

Natural Resources Canada reported Monday that regular gasoline prices in the country hit an all-time record at $2.06 per gallon.

The average was nine cents higher than the record of $1.97 per Liter set last week. It is also up by about 30 cents per litre since mid April.

On Monday, prices averaged around $2.34 per litre in Vancouver. In Toronto, the average was close to $2.09 per gallon. Edmonton was a little more than $1.69 a litre.

The gasoline price has risen since February. After Russia invaded Ukraine, oil prices soared to US$100 per barrel. Prices soared to US$110 per barrel last week.

In addition to rising prices, the opening of the economy and the start to the busy travel season has caused high gasoline demand that is exceedingly difficult for refiners to meet.