TORONTO -- The Iraq invasion, the eastern seaboard blackout of
August 2003 and hurricane Katrina all have contributed to gasoline
price hikes across the country.
Here's a list of some recent gas-price hikes and the events
behind them.
_ May 2001: Tight gasoline supplies in U-S drive prices at
Canadian pumps to 80-cent-a-litre range.
_ March 2003: Iraq invasion sparks fears of oil supply
disruptions and steady increases in price of crude oil and
gasoline.
_ August 2003: Massive blackout across much of northeastern
seaboard cuts power to a number of refineries in Ontario and New
England; refineries take weeks to restore operations to full
production, driving pump prices above 80 cents a litre for several
days.
_ May 2004: Market speculators react to tight gasoline
supplies in the U-S. by bidding up the price of gasoline.
_ August 2005: Hurricane Katrina damages offshore rigs,
refineries, pipelines and ports in the Gulf of Mexico; price
impacts felt worldwide, with Canadian motorists paying upward of
(Canadian) $1.30 a litre.
_ April 2006: Tight gasoline supplies in Canada and U.S.
heading into summer driving season sends prices up around
(Canadian) $1.15 a litre.
_ May 1, 2007: The kidnapping of six oil workers in Nigeria,
low gas inventories and growing demand for gasoline in the U.S.
sends prices higher across Canada; motorists in Vancouver area are
forking out (Canadian) $1.28 a litre at some pumps.
SOURCE: Natural Resources Canada (from Broadcast News Ltd.)
APTV-05-02-07 0228EDT
