Shades of Europe of a couple years ago. Taxes have increased so disproportionately on gasoline prices that what cost $1.40/L when oilwas $140.00/barrel in 2008 that now, if oil hits $140/barrel, gasoline will cost at least $1.70 per litre or $6.80 per U.S. gallon ($7.71 an Imperial gallon). For a truly horrific comparison, in 1966 (when people earned about $80/wk salary on average) gasoline was $0.29/ gallon in Canada, which means gasoline is now 20 TIMES as expensive as back then. Problem is, salaries are not averageing $1600/wk today. If you drive 25k per year and your car gets 10km/l, your gasoline cost will be around $3500.00.