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
Doctors ask Liberal government to reconsider capital gains tax change
The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors' retirement savings.
Keeping these exotic pets is 'cruel' and 'dangerous,' Canadian animal advocates say
Canadian pet owners are finding companionship beyond dogs and cats. Tigers, alligators, scorpions and tarantulas are among some of the exotic pets they are keeping in private homes, which pose risks to public safety and animal welfare, advocates say.
BREAKING Man wanted in connection with deadly shooting in Toronto tops list of most wanted fugitives in Canada
A 35-year-old man wanted in connection with the murder of Toronto resident 29-year-old Sharmar Powell-Flowers nine months ago has topped the list of the BOLO program’s 25 most wanted fugitives across Canada, police announced Tuesday.
Prince William and wife Kate thank public for birthday messages for son Louis
Prince William and his wife Kate thanked the public for their messages which had been sent to mark the sixth birthday of their youngest son Louis on Tuesday.
She was the closest she'd ever been to meeting her biological father. Then life dealt her a blow
Anne Marie Cavner was the closest she'd ever been to meeting her biological father, but then life dealt her a blow. From an unexpected loss to a host of new relationships, a DNA test changed her life, and she doesn't regret a thing.
How quietly promised law changes in the 2024 federal budget could impact your day-to-day life
The 2024 federal budget released last week includes numerous big spending promises that have garnered headlines. But, tucked into the 416-page document are also series of smaller items, such as promising to amend the law regarding infant formula and to force banks to label government rebates, that you may have missed.
Fire engulfs old Edmonton municipal airport hangar
A historical hangar at the former Edmonton municipal airport beside the NAIT main campus was on fire Monday night.
Soft skills, preparation can help new graduates land jobs, experts say
As new graduates enter the workforce over the next few weeks, they are likely to face challenges getting their foot in the door and must be prepared to effectively communicate what they bring to the company.
RCMP uncovers plot to sell drones and equipment to Libya
The RCMP says it has uncovered a ploy to sell Chinese drones and military equipment to Libya illegally.