Canadian gasoline prices soar
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Motorists in Canada's biggest cities were jolted awake Wednesday by a stunning jump in gas prices — in some centres costs rose as much as 20 cents a litre — in the wake of the devastating impact of Hurricane Katrina on U.S. energy sector.
In Toronto, prices were running around the $1.19 a litre mark at some stations. Overnight in Vancouver, gas prices jumped 12 cents to about $1.13 a litre.
In Fredericton, prices at some stations went up to $1.19, an increase of about eight cents a litre. Lineups were reported at places still offering regular unleaded for $1.11.
According to Torontogasprices.com, the highest per-litre price reported over the past 24 hours was in Newmarket, Ont., where costs hit $1.29.
"This is not good," one Toronto motorist told news station CP24 Wednesday morning. "I do an hour and a half everyday to and from work. This is not good."
The price hikes come on the heels of reports of extensive damage to oil platforms in the Gulf of Mexico that sent crude oil prices surging above $70 (U.S.) overseas for a second consecutive day on Wednesday in what some analysts described as an "evolving energy crisis" as a result of the hurricane.