Vancouver gasoline prices reach all-time record
Today is just the first day of summer, but already the retail price of gasoline has reached its highest level ever in Vancouver.
At most gas stations, the price was $1.559 per litre across the city, according to VancouverGasPrices.com.
Prices were more than a dime lower per litre in Aldergrove and Langley, which are closer to the U.S. border.
Traditionally, prices rise in the summer driving season.
According to a historical chart on the VancouverGasPrices.com website, we're now at a record price for retail gasoline.
The recent price rise has been blamed on turmoil in the Middle East, where a Sunni extremist group, the Islamic State of Iraq and Syria, has seized control of northwestern Iraq.
West Texas Intermediate crude oil is trading at $107.26, which is well below the record level of $145.31 reached in the summer of 2008.
That record high for crude oil was blamed by former CIBC chief economist Jeff Rubin for the subsequent meltdown of the global economy in late September and October of the same year.