Gas prices across Canada reach all-time high

TORONTO -

Jaw-dropping numbers at gas stations continue to surprise Canadians as many pumps across the country saw prices near or exceed $2 a litre Friday.

Provinces have seen a whopping 50 per cent increase in gas prices since May of last year when the average price for regular gas stood at $1.31 per litre, according to Statistics Canada.

Cities including Toronto, Montreal and Vancouver, in particular, saw record-breaking prices. With a four cents increase overnight in the Greater Toronto Area (GTA), the average price at the pump rose to $1.94. Topping the city’s record which was broken less than two months ago when prices rose to $1.90.

However, Vancouverites likely felt the brunt of the national increase as the average gas price reached $2.16 per litre. In March the city averaged just two cents less at $2.14. Montreal saw prices reach $1.96, another four-cent increase compared to 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.

Any hopes of prices going down are unlikely as Gas Wizard, a Canadian gas-prediction website, is forecasting continued increases. As of Friday afternoon, Toronto is expected to reach $1.96, Montreal $2.03 and Vancouver $2.17 over the weekend.

With files from CTV Toronto, Montreal and Vancouver.