Gas prices in GTA expected to reach an all-time high Friday
The price of gas in the Greater Toronto Area is set to reach another record high today and it’s unlikely that drivers will get relief at the pumps anytime soon, according to one industry analyst.
Dan McTeague, who is the president of Canadians for Affordable Energy, told CP24 on Thursday that the average price of a litre of gas across the GTA is set to rise more than two cents overnight to reach a new record high of $1.51.9.
That surpasses the last record high of $1.49.9 that was set back on Nov. 4, prior to the detection of the Omicron variant.
“COVID, especially Omicron, really kicked down the road an earlier move towards $90 a barrel. It basically had markets believing that we'd be going back to lockdowns and nothing of the sort really happened so this is really pent up demand coming back with a vengeance,” McTeague said.
“Whether we like it or not when countries like the United States are short 1.4 million barrels of production a day from where they were pre-COVID you can kind of see what happens when demand takes over.”
McTeague said that the rise in gas prices is being driven by several factors, including a global shortage of oil and recent “geopolitical tensions between Russia and Ukraine.”
He said that by the end of the year gas prices in the GTA could reach an average of $1.65 a litre, especially once the federal government’s new Clean Fuel Standard comes into effect in December, 2022.
“These prices are not likely to come back down,” he warned.
CTVNews.ca Top Stories
'Hurts like hell': What goes into the price of gas in Canada
With the price of gas rising above $2 per litre and setting new records in Canada this year, CTVNews.ca looks at what goes into the price per litre of gasoline and where the situation could go from here.
'This is an unusual situation': Feds monitoring monkeypox cases in Canada
Canada's Chief Public Health Officer Dr. Theresa Tam says the federal government is monitoring monkeypox cases and their chains of transmission after two cases were confirmed in this country.
WHO calls emergency meeting as monkeypox cases cross 100 in Europe
The World Health Organization was due to hold an emergency meeting on Friday to discuss the recent outbreak of monkeypox, a viral infection more common to west and central Africa, after more than 100 cases were confirmed or suspected in Europe.
After N.B. police killing of Indigenous woman, chiefs demand systemic racism inquiry
The results of the recent coroner's inquest into the police killing of an Indigenous woman in New Brunswick demonstrate the urgent need for an Indigenous-led inquiry into systemic racism, according to the six chiefs of the Wolastoqey Nation.
'Holy grail of all finds': Ottawa boy finds gun while magnet fishing in creek
A 12-year-old Ottawa boy is sharing his story after a magnet fishing trip turned up an unexpected find.
What to do when your home appraisal falls short as the housing market cools
The cooling housing market has left some buyers with mortgages that can't cover the full cost of their home following an appraisal. Toronto-based mortgage broker Mary Sialtsis discusses what options these buyers have.
Why Canada is banning Huawei from participating in Canada's 5G network
The federal government is banning China's Huawei Technologies from involvement in Canada's 5G wireless network. Huawei and the Chinese government have vigorously denied accusations around the danger of spying, saying that the company poses no security threat.
'Buy now, pay later' plans could lead to exorbitant debt for Gen Z consumers: expert
'Buy now, pay later' plans are growing in popularity among Gen Z consumers, driven by influencers on TikTok and Instagram promoting these services. But one personal finance expert says these services can carry serious financial risks for young people.
Russian vodka, caviar and diamonds on new Canadian sanctions list
Foreign Minister Melanie Joly announced a fresh wave of sanctions against Vladimir Putin's regime on Friday including a ban on importing Russian vodka, caviar and diamonds. The ban on the import of certain luxury goods from Russia will tighten the net on the country's elite and covers alcoholic drinks, fish and seafood.
Montreal
-
Canada's first 2 monkeypox cases confirmed in Quebec
Quebec's health ministry announced Thursday evening there are two confirmed cases of monkeypox in the province, while 20 other suspected cases are still under investigation.
-
TRAFFIC
TRAFFIC | Long weekend coming along with long waits on some Montreal-area roads due to construction
Road users planning on driving on the long weekend in and around Montreal should note that it will be very unpleasant in certain sectors due to major construction work that will last, in certain situations, until Tuesday.
-
11 Ukrainian children receive language exception, can go to English school in Quebec
Since March 2022, 11 Ukrainian children fleeing the war in their country have been granted language exceptions to study at English schools in Quebec.
London
-
Pedestrian struck in Petrolia
Emergency responders were called to downtown Petrolia, Ont. Friday morning after a woman was struck by a vehicle.
-
Stratford swan dies of avian flu
The City of Stratford is urging residents and visitors not to feed local waterfowl including geese, ducks and swans after one its swans died of avian influenza.
-
Bus monitor charged with sexual assault
Police in Owen Sound have charged an 81-year-old man following an investigation into two young girls being touched inappropriately on a school bus.
Kitchener
-
Stratford swan dies of avian flu
The City of Stratford is urging residents and visitors not to feed local waterfowl including geese, ducks and swans after one its swans died of avian influenza.
-
Hanover fire cleanup expected to take several days
It’s expected to take several days for Hanover police and the Ontario Fire Marshal to investigate the blaze the tore through a downtown building.
-
'Somebody out there is missing this child': Remains of young girl found in water in Dunnville, Ont.
Provincial police announced Wednesday the human remains found in the water in Dunnville, Ont., the day before are that of a young girl.
Northern Ontario
-
Much of northeast under severe thunderstorm watch, hail possible
Severe thunderstorms could develop Friday afternoon in communities across northeastern Ontario, Environment Canada said.
-
OPP investigates arson after multiple dump trucks destroyed
Provincial police are investigating an arson that destroyed multiple dump trucks at a Caledon business.
-
Canada's first 2 monkeypox cases confirmed in Quebec
Quebec's health ministry announced Thursday evening there are two confirmed cases of monkeypox in the province, while 20 other suspected cases are still under investigation.
Ottawa
-
Ottawa gas prices drop, but not for long
Your long weekend road trip will be a little cheaper today, as gas prices drop below $2 a litre at Ottawa stations.
-
Ontario Liberals promise to pay 50 per cent of Ottawa's Stage 3 LRT project
"Fifty per cent of provincial funding for Stage 3 of Ottawa's regional transit plan is in the platform," Liberal leader Steven Del Duca told CTV Morning Live Friday morning.
-
Royal Military College awards posthumous degrees to four cadets killed in Kingston, Ont.
Four Royal Military College cadets who died in a motor vehicle accident in Kingston, Ont. last month were given their degrees posthumously on Thursday and honoured in a memorial put on by friends at the college.
Windsor
-
Preparations begin for next phase of $27-million Cabana Road corridor upgrades
Preliminary work is beginning on the next phase of the $27-million Cabana Road construction project.
-
Pelee Island Ferry employees put strike action on hold
Unifor Local 444 has rescinded their strike notice for Owen Sound Transportation.
-
Windsor police extending reward money for unsolved murder cases
Windsor police are hoping an extension of reward money will help with several unsolved murder investigations.
Barrie
-
Driver fined $615 for being on his phone, police say
Police slapped a motorist with a hefty fine Friday morning in Whitchurch-Stouffville as they patrol the roads for careless drivers this long weekend.
-
Woman finds bunny shot with arrow in backyard
Provincial police are investigating after a New Tecumseth resident discovered a rabbit shot with an arrow in her backyard.
-
OPP investigates arson after multiple dump trucks destroyed
Provincial police are investigating an arson that destroyed multiple dump trucks at a Caledon business.
Atlantic
-
Crews responding to fire at Dartmouth scrap metal business; air quality warning issued
Police and firefighters are responding to a fire at Dartmouth Metals, a scrap metal business in Dartmouth, N.S.
-
After N.B. police killing of Indigenous woman, chiefs demand systemic racism inquiry
The results of the recent coroner's inquest into the police killing of an Indigenous woman in New Brunswick demonstrate the urgent need for an Indigenous-led inquiry into systemic racism, according to the six chiefs of the Wolastoqey Nation.
-
Fuel prices drop in all three Maritime provinces overnight Friday
Prices at the pumps dipped in all three Maritime provinces Friday ahead of the May long weekend — with diesel seeing the sharpest drop.
Calgary
-
'Fight for a stronger Alberta': Kenney comments for first time since announcing resignation
Premier Jason Kenney spoke publicly Friday for the first time since dropping the bombshell announcement that he plans to step down as UCP leader and premier of Alberta.
-
Keeping kids safe: How to reduce the risk of falls from windows, balconies
With warm weather in the forecast this long weekend, Calgarians are being reminded just how dangerous an open window or balcony can be for young kids.
-
Oilers, Flames alumni look back at last playoff Battle of Alberta: 'A lot of hate'
The 1991 Battle of Alberta in particular was mean, nasty and downright violent.
Winnipeg
-
Manitoba changing eligibility for fourth COVID-19 vaccine dose
Manitoba's top doctor says health officials are changing the eligibility for a second COVID-19 booster vaccine.
-
No monkeypox cases in Manitoba, but province staying vigilant
Manitoba’s top doctor says no cases of monkeypox have been reported in Manitoba, but the province is keeping its eyes open for cases.
-
Remains of woman found in Winnipeg, victim of 'horrifically grisly' homicide: police
Police say a "horrifically, grisly scene" near an apartment building where the partial remains of a woman were discovered this week has also taken investigators to a landfill.
Vancouver
-
BREAKING
BREAKING | Monkeypox in B.C.? 'Couple' possible cases under investigation, Canada's top doctor says
It's possible that there are cases of monkeypox in British Columbia, according to the country's top doctor.
-
Air conditioning coming soon: Cooling to be mandatory in new homes in Vancouver
Life in Vancouver is about to get a little cooler, thanks to a new requirement tucked into a council-approved report on bylaw and policy updates.
-
May long weekend marks busiest travel weekend in years for British Columbians
It’s expected to be the busiest travel weekend in nearly two years, as British Columbians mark the May long weekend without strict pandemic measures.
Edmonton
-
'Fight for a stronger Alberta': Kenney comments for first time since announcing resignation
Premier Jason Kenney spoke publicly Friday for the first time since dropping the bombshell announcement that he plans to step down as UCP leader and premier of Alberta.
-
LIVE @ 12
LIVE @ 12 | Edmonton Elks to unveil new jerseys Friday
The Edmonton Elks will unveil their 2022 home and away uniforms on Friday.
-
Oilers defenceman Darnell Nurse among King Clancy Trophy finalists
Edmonton Oilers defenceman Darnell Nurse is among the finalists for this season's King Clancy Memorial Trophy.