MONTREAL - Gas prices took a ten-cent leap on Tuesday, and critics say the price hike is unreasonable.
The minimum price for gasoline in Montreal set by Quebec's Energy Board (Régie de l'énergie du Québec) is $1.06/litre, but stations in and around Montreal are currently offering gas at an average price of $1.18/litre.
That's a ten- to 14-cent hike over prices the day before.
CAA Quebec says gasoline should be selling for $1.10/litre.
Meanwhile the price for a barrel of crude oil dropped on Tuesday to under US$80, due mostly to strengthening of the American dollar.
For the past month the value of a barrel has ranged from US$75 to US$84.
Profit margin increased suddenly
Quebec's natural resources minister Nathalie Normandeau says responsibility for the price hike lies with the retailers themselves.
"I understand it's frustrating for consumers," said Normandeau, but noted there is very little the government can do.
Normandeau did note that the bulk price for gasoline rose on Tuesday, but says that retailers have apparently decided to grab as much profit as they can.
According to the minister for the past year retailers throughout Quebec have been adding an average of 5.9 cents/litre as a profit and operational margin, which is one of the lowest margins in the country.
On Wednesday retailers have pumped up that margin to 11 cents/litre.
Normandeau pointed out that during the previous term of office, her predecessor Claude Bechard attempted to introduce legislation calling for more accountability and transparency in gasoline prices, but that was not supported by the Parti Quebecois.
She said that if the opposition is willing to co-operate, she would be willing to start working on the file again.
For the latest gas prices, look under the 'Traffic' tab at ctvmontreal.ca
With files from The Canadian Press
