There’s plenty of pain at the pump today across Canada as gas prices have soared to a record high.
In the Metro Vancouver area, prices have already cruised upwards of $1.52 a litre, with reports this morning in some places it has passed the $1.54/litre mark:
New high for gas prices in Metro Vancouver according to website Gas Buddy. It’s selling for 154.9 cents per litre at a station in Surrey.
— CTV Vancouver (@CTVVancouver) June 16, 2014
Dan McTeague, co-founder of the website Tomorrow’s Gas Prices Today, told CTV News “these price increases have little to do with oil shortages or increased demand,” and noted that it was too early to connect turmoil in Iraq with our ascending gas prices.
One factor is that “the loonie has fallen more than 10 per cent over the past year, making global energy prices more expensive in Canadian dollars,” reports the Huffington Post.
In more troubling news, it is also likely that gas prices in BC could go even higher over the next few days.
Vancouverites have experienced price surges at the pump in the past couple of years, but already current prices have topped what motorists were shelling out in 2008 during another significant spike.
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