TC:Gas prices level off after last week's wild ride
ctvtoronto.ca
Date: Tuesday May. 17, 2011 8:18 AM ET
One week after gas prices jumped six cents to hit a historical high of 139 cents per litre, they have fallen more than 10 cents to 128.5 cents per litre.
However the website Tomorrowsgaspricestoday.com says even though prices have leveled off somewhat in the city, the average price remain almost 30 cents higher than last year when it was at 99.2 cents a litre.
A barrel of crude oil is trading for $96.60.
Toronto currently has a lower average than other major Canadian cities, with Montreal at 135.1 cents per litre and Vancouver at 139.1.
But it remains higher than surrounding cities, including Barrie at 127.4 cents per litre, Kitchener-Waterloo at 127.4 cents per litre and Peterborough at 127.4 cents per litre.
Analysts expect prices to leap before this week's long weekend.
