Gas prices set to jump 4.5 cents by Wednesday morning
Published Tuesday, April 3, 2012 10:30PM EDT
Gas prices across Toronto are expected to make another significant jump overnight, according to industry watchers.
Analysts at the website Tomorrow's Gas Price Today says the price of petrol will jump 4.5 cents per litre before stations open Wednesday morning.
That will bring the average price in Toronto up to $1.40 per litre.
One year ago, the average price of gas in Toronto was $1.29 per litre.
The jump comes on the heels of a gas promotion that saw one Toronto station drop its price to 50 cents a litre.
The gas station sold 10,000 litres of fuel for the discounted price Monday morning, as hundreds of cars lined up in harried anticipation.
Dan McTeague, a former MP who runs tomorrowsgaspricestoday.com, said the frenzy surrounding the gas deal hints at large problems in the market.
"This is a real symbol of how desperate the situation has become for a lot of Canadians," he told CTV Toronto.