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Ike Spurs 50-Cent-a-Gallon Canada Gas Hike

Posted on: Friday, 12 September 2008, 12:00 CDT

Canadian gasoline prices were up as much as 50 cents a gallon Friday as Hurricane Ike forced the closure of energy production facilities in the Gulf of Mexico.

The most expensive gas in Canada was in Vancouver, British Columbia, at $1.35 a liter, or $5.10 a gallon, up 23 cents a gallon from Thursday, the gasoline price Web site gasbuddy.com reported.

In Toronto, prices jumped to $1.29 a liter, or $4.89 a gallon, from $1.15 a liter, or $4.39 a gallon, gasbuddy said.

Toronto gas station owners reported 30 minute waits overnight as motorists lined up to beat Friday morning's anticipated price hike, Canwest News Service reported. Some owners said they ran out of gas due to the high demand, the news service said.

Other Canadian cities cited similar hikes Friday.

Edmonton, Alberta, reported gasoline at $1.23 a liter, or $4.66 a gallon, up from $1.19 a liter, or $4.50 a gallon, gasbuddy.com said.

Montreal reported gas selling for as much as $1.28 a liter, or $4.84 a gallon, up from $1.22 a liter, or $4.62 a gallon.

Analysts blamed the price hikes on Hurricane Ike, which was bearing down on the Houston area, shutting down major production and refining facilities and driving up U.S. gasoline prices too.

They also said some Canadian refineries had slowed down their production, Canwest News said.

Source: United Press International

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