A tanker truck delivers fuel at a gas station in Mississauga, the Greater Toronto Area, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
OTTAWA, March 4 (Xinhua) -- Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday.
According to the daily average retail prices for regular gasoline published by the agency, the price per litre reached 200.1 Canadian cents (1.57 U.S. dollars) in Vancouver and 201.3 cents (1.58 U.S. dollars) in Labrador City, for the first time in the Canadian history. The average price per litre in Canada reached 176.2 cents (1.38 U.S. dollars).
Due to the growth in gas prices, year-over-year consumer price index inflation gain is currently at 5.1 percent, well above Canadian central bank's target range, which means more interest rate increases are expected in coming months. ■
Vehicles are seen to be fueled at a gas station in Toronto, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
People walk past a gas station in Toronto, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
A man fuels a vehicle at a gas station in Toronto, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
Gas prices are displayed at a gas station in Toronto, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
People walk past a gas station in Toronto, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
Gas prices are displayed on a gas pump at a gas station in Toronto, Canada, on March 4, 2022. Gas prices have hit record-breaking highs in Canadian cities, Natural Resources Canada revealed on Friday. (Photo by Zou Zheng/Xinhua)
