Oil Crisis Begining in Canada?

Drops of liquid gold were being sold at gas stations Tuesday morning; at least that’s how drivers felt after an overnight jump pushed pump prices up right across the country.

Vancouver led the country in a race no city wants to win. Motorists on the west coast are paying $1.25 per litre for regular, self-serve gasoline. Parts of southern and eastern Ontario had the lowest pump prices in Canada at a mere $1.08 per litre.

The result: a certain amount of east-west envy, which is uncommon in western Canada.

The sudden jump just as quickly sparked questions about why gasoline is suddenly more expensive.

Gasoline is becoming more valuable by the day due to increases in wholesale pricing. But that’s not the whole story. Gasoline inventories in the United States have been falling for weeks, driven in part by problems at some refineries.

CTV