Wednesday, September 7, 2005

Yeowch, eh?

If you think our gas prices are high, they’re up to $4 a gallon in Canada.

Canadian motorists paid a record average of $1.26 per litre of regular gasoline last week as pump prices soared across the country in the wake of hurricane Katrina’s damage to the oil and gas industry along the U.S. Gulf Coast.

The latest weekly survey showed gasoline prices rose 22 cents per litre to the highest average in Canadian history.

M.J. Ervin, the Calgary-based firm that tracks Canadian retail fuel prices, said fuel prices should begin to fall lower as affected refineries re-start production and demand drops after the busy summer driving season.

[…]

According to the Ervin survey, drivers in Gander, NL, paid the highest for regular gasoline at nearly $1.50 per litre.

Edmontonians paid the lowest in Canada at $1.10 per litre.

Do the math: $1.26 Canadian per litre (3.78 litres to a gallon) at the current exchange rate ($0.84 Canadian to the U.S. dollar) comes out to $4.00 a gallon. Granted, they add on a lot of tax up there but still — the $2.919 $2.869 at my usual station on Coral Way sounds like a bargain.