Prices at the pump here are soaring for a number of reasons, largely because of what’s happening beyond our borders. McTeague also said that the pump price could rise above $1.40 cents per litre in Canada “on occasion” this summer if unexpected crude supply disruptions materialize. Despite the run-up in oil prices, the loonie barely budged over the past two sessions. That means the Canadian economy is not enjoying full benefits of West Texas and North Sea Brent crude price gains. The bitumen/refined crude price gap has widened this year on factors including carbon taxes and delays in oil pipeline expansion.

Source: thestar May 07, 2018 21:33 UTC