Gasoline costs across Canada are expected to keep smashing records despite a significant mid-week dip in the price of oil.
The average Canadian retail fuel price climbed to nearly $1.87 per litre this morning according to gasoline price-tracking website GasBuddy-dot-com.
That’s up from about $1.85 on Wednesday and $1.66 per lire last week.
The gains came in spite of the first significant pullback in crude prices since the war in Ukraine started and sent demand soaring.
Yesterday, the price of benchmark West Texas Intermediate closed at $110.36 U-S per barrel, down nearly 11 per cent from the previous day’s trading.
W-T-I hovered around 110-dollars again mid-morning today.
GasBuddy analyst Patrick de Haan says retail prices at the pumps lag behind oil prices by several days, which means gasoline prices will continue to rise in the immediate future.