Updated: Jun 14
According to GAS BUDDY... the average price for a litre of gasoline in Canada is $206.5
That's the national average, naturally, in British Columbia the average cost for a litre is $2.20,
the nation's highest.
Some areas are already experiencing fuel prices above $2.30
The national average has jumped 9.7 cents in just one week. .19 cents per litre over last month.
This time last year, the national average was $131.0, that's .75 cents lower.
Gas reached a high of $2.31 per litre in Vancouver, $216.9 per litre in Vernon.
According to GasBuddy more bad news is on the way. Gasoline inventories continue to decline, in part because of less refining capacity than before the pandemic. That, combined with a post COVID rise in consumption can only mean more pain at the pump.
Rising fuel costs will also push the price of most goods up as well.
China’s economy is reported to be returning to full capacity, that puts even more upwards pressure on prices.
At the start of June 6th 2022 the price of a barre
l of crude was approximately $119 per barrel, down from $123 per barrel last week.
There may be some reason for optimism. OPEC has surprised analysts by raising oil production by 648,000 barrels per day, that's higher than the 432,000 barrel increase expected by the member states.
Analysts warn the average price per litre nationwide could reach $2.30 this summer.