Gas prices in southern Ontario to spike to the highest level in months
Drivers can expect to pay more at the pumps this summer as gas prices in the Greater Toronto Area reach levels not seen since November 2022.
Gas prices rose by five cents on Thursday and are expected to increase by another three cents on Friday, bringing the cost to about $1.66 per litre.
Dan McTeague, the president of Canadians for Affordable Energy, says this is the highest price seen since Nov. 10, 2022. He anticipates prices may drop in the next day or so before increasing yet again.
“It’s going to be very choppy,” McTeague told CTV News Toronto on Thursday.
“It will go up a bit, come down a bit, and up a bit more until markets can get over supply and demand.”
McTeague anticipates the combination of supply and demand, issues with the U.S. debt ceiling and the value of the Canadian dollar will contribute to the “non-linear” price increase.
“We are going to see prices move up and, of course in Canada, many people may notice their fuel mileage will take a hit,” he said.
“I don’t see a scenario in which prices don’t move up 20 cents between now and mid summer.”
Just a week ago, prices in the GTA were hovering around $1.54 cents per litre. The highest price ever recorded was on June 8, 2022, when the cost of gas hit $2.15 per litre.
CTVNews.ca Top Stories
Several flight attendants from Pakistan have gone missing after landing in Canada
Multiple flight attendants from Pakistan International Airlines have abandoned their jobs and are believed to have sought asylum in Canada in the past year and a half, a spokesperson for the government-owned airline says.
BREAKING Ottawa public school board, 3 Toronto-area school boards launch lawsuit against social media giants
The Ottawa-Carleton District School Board and three school boards in the Toronto-area have launched legal action against social media giants, accusing them of "disrupting students' fundamental right to education."
Doctors visiting a Gaza hospital are stunned by the war's toll on Palestinian children
An international team of doctors visiting a hospital in central Gaza was prepared for the worst. But the gruesome impact Israel’s war against Hamas is having on Palestinian children still left them stunned.
Crypt near Marilyn Monroe and Hugh Hefner could fetch US$400,000 at auction
A one-space mausoleum crypt in the vicinity of Marilyn Monroe and Hugh Hefner will go on auction Saturday, when it is expected to reach between US$200,000 and $400,000.
This Toronto restaurant is no longer accepting tips. Here's how it's going
A Toronto restaurant introduced a surprising new rule that reduced the cost of a meal and raised the salaries of staff – tipping is no longer accepted.
A Nigerian woman reviewed some tomato puree online. Now she faces jail
A Nigerian woman who wrote an online review of a can of tomato puree is facing imprisonment after its manufacturer accused her of making a “malicious allegation” that damaged its business.
Premiers not being truthful about carbon tax, Trudeau says while sparks fly in Ottawa
Prime Minister Justin Trudeau says Conservative premiers across the country are 'not telling the truth' when it comes to the carbon tax. Trudeau's comments came as fresh sparks were flying in Ottawa at a recalled House of Commons committee.
Far North police 'dispatch' polar bear stalking schoolyard
Police and local hunters in an Ontario Far North First Nation community have “dispatched” a polar that was showing abnormal behaviour and treating the area as a hunting ground.
Cargo ship had engine maintenance in port before Baltimore bridge collapse, officials say
The cargo ship that lost power and crashed into a bridge in Baltimore underwent 'routine engine maintenance' in port beforehand, the U.S. Coast Guard said Wednesday.