Prices at the pump exceeding $2 a litre in Vancouver could be a sign of higher energy prices to come for all of Canada, as the conflict in the Middle East ends its third week.
According to GasBuddy.com, the price of a litre of gas in British Columbia averaged $1.94 on March 20, while the average in the city of Vancouver was $2.02 per litre—the highest in the country. Gas prices have risen in every province except Alberta in recent weeks, with the average across Canada now at $1.72.
With Iran’s virtual closure of the Strait of Hormuz, coupled with the destruction of oil and gas facilities in the Middle East, prices at the pump are expected to continue rising for Canadians. That will likely lead to higher prices for food, consumer goods, and other items in Canada….