Gas prices stay high even as oil settles
Montreal pumps remain 24 cents above pre-conflict levels despite global oil prices falling. Airlines keeping fuel surcharges in place.
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Drivers in the Montreal area haven't yet seen relief at the pumps, even as global oil prices have fallen back to near pre-conflict levels following eased tensions in the Middle East.
According to Quebec's Régie de l'énergie, the average price of regular gasoline in Montreal remains 24 cents per litre higher than it was before U.S. strikes in Iran. The current average sits at 175.5 cents per litre, despite a temporary federal excise tax suspension on gasoline.
On Friday, prices had edged down across the region—172.9 cents per litre at an Esso on Saint-Laurent Boulevard in Montreal, at a Petro-Canada on Curé-Labelle Boulevard in Laval, and at an Ultramar station on Jacques-Cartier Boulevard East in Longueuil.
Industry observers say pump prices may take longer to decline as oil markets stabilize and countries work to replenish strategic crude reserves.
Air travellers are seeing little relief either. While aviation fuel costs have dropped from recent highs, they remain above pre-conflict levels. WestJet and Porter Airlines have reduced some fuel surcharges on reward bookings, but most airline surcharges remain in place.