Gas prices soar
Posted Feb 23, 2011 05:05:12 PM.
This article is more than 5 years old.
TORONTO – Drivers in several Canadian cities won’t be happy today when they see the prices at the gas pumps.
Prices jumped 3.6-cents a litre in many areas overnight, including the Toronto area, Hamilton, London, Ottawa, Montreal and right here in Waterloo Region.
Here’s a couple of people who are not happy about it…
A litre of regular gas in Montreal is now $1.30 a litre, up to $1.21 a litre in Toronto and London, and $1.20 a litre in Ottawa. Here in the Region it ranges anywhere from $1.14 a litre to over $1.20.
The increase is blamed on the chaos in Libya, where some major oil companies have shut down their oil operations.
Yesterday, oil closed at a two and-a-half year high at $98.10 U-S a barrel.
Some analysts say it’s not a question of how high the price of oil will go, but rather how long it will remain high.
