Gasoline prices breaking records as crude oil tops US$90 a barrel
Posted February 4, 2022 10:08 am.
There is more pain at the pumps for Canadian drivers this week as gasoline prices climb to new record highs.
Fuel price tracking website GasBuddy.com says the national average retail fuel price hit 151.3 cents per litre Friday morning.
RT this post with the price of #gas in your city
???? #GasPrices have been increasing slowly, and our analysts predict this is just the beginning. Once the weather starts to warm up and more drivers hit the road, prices could increase a LOT more significantly. pic.twitter.com/mFlANeCtxA
— GasBuddy (@GasBuddy) January 31, 2022
That’s the highest average price on record, according to the website, which has data as far back as 2008.
The biggest factor behind the gains is the price of crude oil, which is at an eight-year high. The benchmark West Texas Intermediate price topped US$92 per barrel on Friday.
Drivers in Newfoundland are paying the most for gasoline this week, followed by drivers in British Columbia.
The lowest prices for gasoline can be found in Saskatchewan, followed by Alberta.
