Newfoundland and Labrador has the highest gas prices in the country according to Gas Buddy dot com.
The average price to top up the fuel tank in this province is $1.59.1 cents per litre for regular gasoline according to the consumer group, somewhat puzzling since in the Maritimes the price is around $1.42. That’s about the same price which people in the remaining provinces pay with the exception being British Columbia where gas costs $1.53 per litre on average.
Meanwhile, oil prices are at their highest in seven years and some analysts predict they will go higher before they drop back.
Rory Johnston, an industry analyst who writes the Commodity Context Newsletter, says the energy crisis sweeping Europe and Asia right now is adding to the demand for crude. He says prices for natural gas are so high on a crude oil adjusted basis that it’s trading at over $200-bbl and causing industry to switch to diesel or oil.