Sep 1, 2023
Gasoline prices up from a year ago as drivers head into holiday weekend
The Canadian Press
Tighter & tighter: U.S. oil stockpiles hit lowest since December
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Canadians planning to hit the road for the last long weekend of summer can expect to pay more for gasoline than they did last Labour Day.
The national average gasoline price as of Friday was $1.67 cents per litre, according to fuel price tracking website GasBuddy.com.
That compares to $1.37 cents per litre on Sept. 1, 2022.
Gasoline prices began to rise in July and August of this year, in part due to crude oil production cuts by Saudi Arabia and Russia.
The benchmark crude price West Texas Intermediate hit a 12-month high Friday, hovering around the US$85 per barrel mark.
That compares to one year ago, when WTI was about US$75 per barrel.
This report by The Canadian Press was first published Sept. 1, 2023.
