Gas prices across Canada reach all-time high

TORONTO

Canadians are still stunned by jaw-dropping gas station prices as many stations across Canada saw Friday’s prices exceeding $2 per liter.

Statistics Canada reports that gas prices have increased by 50 percent in provinces since May last year, when regular gas was at an average cost of $1.31 per gallon.

In particular, record-breaking prices were set in cities like Toronto, Montreal, Vancouver. The average pump price rose by $1.94, thanks to a four-cent overnight increase in the Greater Toronto Area. Topping the city’s record which was broken less than two months ago when prices rose to $1.90.

Vancouverites were likely to feel the brunt as the average gasoline price rose to $2.16 per gallon. The average price of gas in March was $2.14, or two cents more. Montreal prices reached $1.96, a four-cent increase on the weekly average of $1.92.

Russia’s ongoing invasion of Ukraine has been the main concern linked to the surge in gas prices as the EU proposed a ban on Russian oil imports.

Gas Wizard, a Canadian website that predicts gas prices, does not expect prices to fall. On Friday afternoon, Toronto was expected to be at $1.96 while Montreal will reach $2.03 and Vancouver will reach $2.17.

Files from CTV Toronto and Montreal.