Gas prices: Montreal reaches another record high of $2.15 per litre
Montreal commuters woke up to spiking gas prices as some stations' price for regular is currently a record high and over $2.15-per-litre.
According to the website that tracks prices - GasBuddy - the Costco Wholesale pump ($1.95) in Verdun and the Petro-Pass on Cote-de-Liesse in Dorval ($1.89) were the cheapest on the island first thing in the morning.
The majority of the pumps' regular fuel price was $2.09 or higher.
Those scowling at the price tick up as they put 40 litres in their SUV may take some grudging solace in the fact that they are not filling up in metro Vancouver where prices are as high as $2.33-per-litre.
Many experts have attributed soaring gas prices to market destabilization brought on by Russia's attack on Ukraine, as well as recovering global demand as COVID-19 restrictions ease.
Parti Quebecois leader Paul St-Pierre Plamondon proposed a limit of $1.60-per-litre for gas prices across the province with the difference to be paid by oil producers.
He called the gas prices "grand theft."
Montreal Economic Institute (MEI) director of operations Miguel Ouellette said that while the intention of the proposal may be positive in terms of reducing costs for families, it "ignores basic economic notions" and is counterproductive.
"With our governments' substantial taxes on gasoline - which account for more than a third of the price - and minimum pump prices that undermine competition, the 'robbery' Mr. Plamondon referred to is more likely to be on the government's side," said Ouellette. "Our elected officials should focus on eliminating the measures currently in place that artificially increase the price at the pump."
Capping gas prices without consequences, Ouellette said, was like a "Disney story." He said if prices were capped, it would force refineries in the province to stop sourcing oil at a price that would make any profit.
The MEI suggests, rather, abolishing the minimum price and provincial gas taxes.
"We currently pay about 60 cents per litre in taxes, which is one of the highest amounts in North America," said MEI public policy analyst Gabriel Giguere. "We must not forget that these taxes on gasoline are reflected in the price of food, clothing and transportation in general, which accentuates the inflationary spiral we are currently experiencing."
Revenu Quebec currently takes $0.192 per litre for gas and $0.2020 for diesel in provincial gas tax. In addition, the province's 9.925 per cent Quebec Service Tax (QST) adds around $0.21-per-litre.
Eliminating both taxes, the MEI says, would cut prices at the pump by 40 cents.
CTVNews.ca Top Stories
Canada, G7 urge 'all parties' to de-escalate in growing Mideast conflict
Canada called for 'all parties' to de-escalate rising tensions in the Mideast following an apparent Israeli drone attack against Iran overnight.
'It could be catastrophic': Woman says natural supplement contained hidden painkiller drug
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
After hearing thousands of last words, this hospital chaplain has advice for the living
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
'It was all my savings': Ontario woman loses $15K to fake Walmart job scam
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
Families to receive Canada Child Benefit payment on Friday
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.
After COVID, WHO defines disease spread 'through air'
The World Health Organization and around 500 experts have agreed for the first time on what it means for a disease to spread through the air, in a bid to avoid the confusion early in the COVID-19 pandemic that some scientists have said cost lives.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
DEVELOPING G7 warns of new sanctions against Iran as world reacts to apparent Israeli drone attack
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.