Oil price per barrel taking off

WASHINGTON — Oil prices soared again today topping $132 a barrel for the first time ever, after closing at a record $129 on Tuesday.

According to the Associated Press, the price opened at $130 before climbing two more dollars by midday after a U.S.
government report showing a surprise drop in crude stockpiles.

Yesterday’s peak price came just as the House passed a bill that would allow the U.S. Justice Department to sue OPEC for limiting oil supplies and setting prices.

Despite the White House threatening a veto, the bill passed overwhelmingly by a vote of 324-84.

Here in Canada, diesel prices are averaging $1.38 a liter — still considerably higher than gasoline.

In Atlantic Canada, where prices are always highest, truckers have watched fuel surpass well over $1.50 and even approach $1.70 in parts of Newfoundland and Labrador.

In St. Johns and Gander, diesel averages $1.56 this week. It hit $1.63 a liter in Labrador City.

Southern Alberta continues to have the lowest average price of about $1.30. In Southern Ontario, pump prices average between $1.30 and $1.38 this week.