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 liter of regular gas, according to a website statement www.essencemontreal.com.
However, the price remains lower outside the Montreal region. In fact, the average price per liter for the whole of Quebec was established at just under $ 1.53.
Just ten days ago, data from Natural Resources Canada already showed that the weighted national average retail price of regular gasoline in Canada had hit $ 1.45 per liter, an increase of more than 0. $ 40 compared to last year. This was the highest weekly average on record, according to gasoline-pricing consulting firm Kalibrate, which has been collecting the data since 2007.
In New York, the price of a barrel of crude oil stood at US $ 83.51 on Monday morning, up US $ 1.23. The price of a barrel has jumped 70% so far this year.
A dozen years ago, when a liter of regular gasoline was selling for around $ 1.50 in the Montreal area, the price per barrel was trading at around US $ 150 in New York City.
Soaring gasoline prices not only result in significant additional expenses for motorists, but also increased shipping and delivery costs for businesses of all types.