You may want to fill your tank ASAP. ⛽
Montreal-area motorists will have to shell out more at the pumps on Friday, and likely into the weekend. High demand for gas, coupled with ongoing supply issues, has fuelled a $2-per-litre price hike at many stations in the city and across the province.
Some experts predict the overnight jump could be followed by another increase.
Price monitoring site Gas Wizard forecasts the average litre of gas will creep up to around 203.9 cents by Saturday. That means it may be worth filling your tank now, especially if you see any stations offering prices near 197 cents per litre.
Of course, some Montrealers are simply opting for alternative modes of transportation instead.
Avec l\u2019essence \u00e0 plus de 2$ le litre ce matin, bien content d\u2019avoir opt\u00e9 pour le BIXI \u00e9lectrique pour me rendre au caucus de @projetmontreal!\n@BIXImontreal #polmtlpic.twitter.com/o2Gax0Vhx1— Sylvain Ouellet (@Sylvain Ouellet) 1651840571
The high prices have been attributed to gas production playing catch-up with pre-pandemic levels. With more drivers on the road, demand has returned for oil, but production has not recovered as quickly.
Earlier this year, a monthly report by OPEC (Organization of the Petroleum Exporting Countries) on the global state of the industry projected world oil demand would rise by 4.15 million barrels per day in 2022. World prices that are already at a seven-year high will also rise.