Gas prices in Ontario set to rise again. This is when you should fill up
Gas prices in Ontario dropped 10 cents per litre on Friday ahead of the long weekend, but the relief at the pumps is expected to be short-lived.
The average price of gas in Ontario dropped to $196.6 per litre Friday, which is a 13-cent drop from Wednesday.
However, President for Canadians for Affordable Energy Dan McTeague says Ontario gas prices are projected to rise over the next two days.
"We're going to see a four-cent increase on Saturday and although the markets haven't settled yet, it's pretty clear that we are likely looking at about a two-cent increase (on Sunday). In other words, you got the 10 cents off today, it's going to go up between now and Sunday by about six cents a litre," he told CP24 Friday morning.
On Wednesday, gas prices hit a whopping $209.9 per litre, and McTeague says gas prices are set to top that in the coming week.
"Next week, the Americans begin their unofficial kickoff to the summer driving season. That's going to put a lot of pressure on gas prices for us here in Canada. They are really the ones to determine prices for us, they're a large market. I would expect that we're going to be back to $2.10 a litre probably within the next week or so."
- Download our app to get local alerts to your device
- Get the latest local updates right to your inbox
Gas prices have been elevated since late February mostly due to fuel supply shortages amid the war in Ukraine and international sanctions that have been imposed as a result.
For the coming summer months, McTeague says the outlook on gas prices is grim partly because of impending weather issues.
"We may see days where we hit $2.30, $2.25 if we're lucky. American weather problems in the Gulf Coast tend to be a big deal," he said.
"The summer looks like average prices will get to $2.15 a litre here in the GTA, and right across most of southern Ontario," he added.
CTVNews.ca Top Stories
Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Maple Leafs fall to Bruins in Game 3, trail series 2-1
Brad Marchand scored twice, including the winner in the third period, and added an assist as the Boston Bruins downed the Toronto Maple Leafs 4-2 to take a 2-1 lead in their first-round playoff series Wednesday
Cuban government apologizes to Montreal-area family after delivering wrong body
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
New Indigenous loan guarantee program a 'really big deal,' Freeland says at Toronto conference
Canada's Deputy Prime Minister Chrystia Freeland was among the 1,700 delegates attending the two-day First Nations Major Projects Coalition (FNMPC) conference that concluded Tuesday in Toronto.
'Life was not fair to him': Daughter of N.B. man exonerated of murder remembers him as a kind soul
The daughter of a New Brunswick man recently exonerated from murder, is remembering her father as somebody who, despite a wrongful conviction, never became bitter or angry.