Montreal gas prices shoot up by more than 10 cents a litre

Montreal drivers hitting the road Wednesday morning got some unwelcome sights passing service stations as gas prices spiked overnight.

Some stations saw as much as a 12 cent rise from Tuesday to Wednesday as stations switched from winter to summer blends of gas and OPEC production decreases as U.S. gas supplies shrink.

Some stations prices were as high as $1.76 per litre, up from $1.64 on Tuesday.

"East of Thunder Bay right over to Newfoundland, they tend to follow the mood swings of Wall Street and the futures market," said En-Pro International chief petroleum analyst Roger McKnight, saying the depleting U.S. crude, diesel, and gasoline stocks will affect prices.

"We have the OPEC+ cuts kicking into phase about the third week in May, so there's 1.6 million barrels of supply coming off the market in addition to the 2 million they already put in in the latter part of last year. Then to top it off, May 1 is the introduction of the summer gas to the winter gas to the consumer." 

The Costco gas bar on Bridge Road in Verdun remains one of the best values, with regular listed at $1.60 per litre.

Those able to get to the South Shore can cut a bit off their gas bill, as some stations in Kahnawake are selling as low as $1.55.