Gas prices soar in Montreal ahead of Easter weekend
Some stations at $1.50 per litre
Gas prices are up in Montreal today, with some stations selling for as high as $1.50 per litre.
This is causing frustration as the Easter long weekend approaches, especially for those who need their vehicles for work and travel.
"We're seriously thinking of switching to alternative energies like electric cars because this is just outrageous," said Ahmad Samman, an accountant who uses his car to visit clients.
Chris Diraddo is the founder of Essence Montreal, a website that monitors gas prices in Quebec.
He says he received more comments and emails every time gas prices near the $1.50 mark.
"It is a huge psychological barrier. I know that every time that prices fluctuate close to $1.50, the traffic goes up, and people are definitely more concerned," Diraddo told CBC Daybreak host Sue Smith.
Prices rising across Canada
Gasoline prices in Canada are climbing to two-year highs, and could be going higher throughout the summer, according to industry watchers.
Doug Porter, chief economist at the Bank of Montreal, says the rising price of crude oil is part of the reason gas prices are going up.
So far this year, the price of a barrel of oil has risen more than five per cent, "and then when you tack on another three per cent drop in the Canadian dollar this year, it leaves oil prices up more than eight per cent in 2014," Porter told CBC News this week.
CAA-Quebec says the price of gas should be much lower today. According to the agency's Gasoline Watch website, drivers should expect to pay $1.47 per litre based on the acquisition cost and the average retail margin.