CANADA….GAS PRICES NEED TO HIT $2.50/LITRE FOR MANY TO SHIFT HABITS

BY Chandrayee Roy Choudhury, Canada: Most Canadians with access to a vehicle have changed their driving habits, or plan to, in order to cope with current gas prices. However, for nearly one-in-four, prices would have to soar above $2.50 per litre before they would rethink their routines.

Gasoline prices have climbed in recent weeks despite benchmark oil prices (CL=F) retreating from recent highs related to Russia's invasion of Ukraine. The average price of regular unleaded gasoline in Canada climbed to $1.814 per litre on Tuesday, according to the price-tracking website GasBuddy. That's up from $1.292 at this time last year.

Gasoline prices climbed 11.8 per cent on a monthly basis in March, following a 6.9 per cent gain in February, according to Statistics Canada's latest breakdown of consumer prices. Canadians are split on what's behind inflation at the fastest pace since 1991.