MONTREAL - The price of crude oil is at its highest point in over two years and the pain is being felt at Montreal's pumps, with gas prices hovering at around 127 cents per litre, a jump of about 10 cents in 24 hours.
Experts say the political unrest in oil rich Libya is to blame for the rise in oil prices, and there's little hope they will be falling any time soon.
"A high price of oil seems pretty much assured given the instability we're seeing in the Middle East," said Howard Wheeldon, a senior strategist with BGC Brokers.
But should gas prices be following lockstep?
One Quebec consumer group doesn't believe its necessarily so and sees petroleum companies pouncing on an opportunity.
"They are taking advantage of an actual situation to raise the retail price more than what would be directly related to the Middle East situation," said Jean-Francois Blain of Option Consommateurs.
Libya accounts for about two per cent of the world's oil production and while most agree it has an impact, Blais says it's not the whole story.
"In fact it's just part of the explanation, a very small part," he said. "No, it's not a good reason. Maybe in Saudia Arabia, but not Libya."
Most of the Montreal motorists who spoke to CTV Montreal's Tarah Schwartz were in full agreement.
"In reality there not should not be a difference but they have to make money," said Marjolaine Landry. "More money, I should say."
