Big jump at the pumps
Posted Apr 2, 2011 08:37:27 PM.
This article is more than 5 years old.
Gas prices jumped by almost 5 cents a litre to 127.2 cents/litre on Friday at midnight.
570 News spoke to some people pumping their gas in Kitchener and many were understandably upset. One man said, “I don’t see the need for it. It’s all gas, gas, gas all over the world.”
But many people say there’s not much you can do about it, with one lady saying, “You do what you have to do. It’s the way it is. We have to drive.”
The price of oil hit a 30 month high yesterday, over the war in Libya and the unrest in a handful of Middle Eastern countries. But Liberal MP and gas price watcher Dan McTeague says it’s more about a monopolistic situation among oil and gas producers in Canada and lack of oversight.
Gas has been on the rise for almost a year and has risen more than 10% in the past month. At this time last year, gas was sitting around $1.00 a litre.
