This is the timeline for when gas prices will skyrocket in Ontario
Gas prices in Ontario are set to hit another record this week, one expert says.
Dan McTeague, President of Canadians for Affordable Energy, told CTV News Toronto that prices jumped two cents per litre on Wednesday to an average of $1.60 per liter.
Another major increase will come on Thursday, when gas prices are expected to jump seven cents to an average of $1.67 per litre.
"That's a price we have never seen or ever paid here," McTeague said. "It's well above the record, which is $1.61 per litre."
Gas prices are expected to take another major jump on Friday. Prices are forecast to jump another seven cents per litre to $1.74 per litre.
McTeague said the crisis in Ukraine is helping to fuel higher gas prices globally, and believes the cost of filling up will only get worse in the coming weeks and months.
"I can't see a scenario where prices won't go higher and remain higher," he said. "I think $1.90 per litre in the Greater Toronto Area is certainly within range … That could happen in the next four to five weeks."
McTeague said while gas prices always get the attention, he is more worried by the spike in diesel prices this week.
"That's up five cents tomorrow and another seven cents on Thursday," McTeague said. “That’s the one that drives food prices and the economy."
CTVNews.ca Top Stories
'Beautiful in its own way': New forest emerges in Jasper National Park, bringing protection and new opportunities
Charred stumps and the remains of fire-ravaged trees still cover large tracts of land on the Jasper landscape, but life is returning quickly down below.
Bloc Quebecois ready to extract gains for Quebec in exchange for supporting Liberals
The Bloc Québécois says its ready to wheel and deal with Prime Minister Justin Trudeau's party for support during confidence votes now that the Liberal government's confidence and supply agreement with the NDP has ended.
Dog mauled to death in B.C. yard after 3 pit bulls jump fence: police
A 12-year-old collie was killed by three pit bulls in the B.C. Interior Sunday morning, according to authorities.
video ‘Not checking out yet’: Woman with incurable cancer vows to keep fighting
Heather Appleton just renewed her passport for another ten years. “I’m not checking out yet,” said Appleton, 61, who has the incurable cancer, Multiple Myeloma.
Trump threatens to jail adversaries in escalating rhetoric ahead of pivotal debate
With just days to go before his first and likely only debate against U.S. Vice-President Kamala Harris, former U.S. president Donald Trump posted a warning on his social media site threatening to jail those “involved in unscrupulous behavior” this election, which he said would be under intense scrutiny.
'It's morally wrong': A rural Alberta town reacts to homeless shelter closure
At the end of a side street in Slave Lake, Alta., Lynn Bowes looks at a grey job-site trailer with boarded-up windows and doors that once operated as her town's only homeless shelter.
Over 200 firearms seized in weapons investigation: Waterloo Regional Police
According to police, during a traffic stop in Waterloo, officers noticed firearms and ammunition inside the vehicle.
Military surplus store in Calgary, destination of celebrity shoppers, closing doors
Cher, Anthony Hopkins, Heath Ledger, Alec Baldwin and Tom Hardy are just a few of the celebrities John Cumming met while growing up in his family's military surplus store.
Slide over salsa: K-pop takes socialist Cuba by storm
Socialist Cuba, the birthplace of salsa and other rhythms that have conquered the world, is now surrendering to the invasion of South Korean pop music.