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Average gas price tops $2 a litre in Canada for the 1st time

Click to play video: 'Gas prices soar to $2.15 per litre in Montreal' Gas prices soar to $2.15 per litre in Montreal
Montrealers are feeling the pinch at the pump as gas prices jumped again, surpassing $2.15 per litre. Global's Brayden Jagger Haines reports – May 16, 2022

Gasoline prices are showing no signs of letting up as the average price in Canada tops $2 a litre for the first time.

Natural Resources Canada says the average price across the country for regular gasoline hit $2.06 per litre on Monday for an all-time high.

The average was a nine-cent jump from the $1.97 per litre record set last week, and is up about 30 cents a litre since mid-April.

Read more: Here are 10 ways to spend less on gas this summer as prices soar

Prices averaged about $2.34 a litre in Vancouver on Monday, while in Toronto the average was almost $2.09 per litre. Edmonton, in contrast, averaged just under $1.69 per litre.

Gasoline prices have been elevated since late February when oil spiked to around US$100 a barrel after Russia invaded Ukraine, while the price jumped to over US$110 per barrel last week.

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Prices have also been spiking more recently as the reopening of the economy, and the start of the busy travel season, have led to high demand for gasoline that refiners have limited capacity to meet.

Click to play video: 'Pain at the pump hits new high for B.C. drivers' Pain at the pump hits new high for B.C. drivers
Pain at the pump hits new high for B.C. drivers – May 16, 2022

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