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
Pedestrian, baby injured after stroller struck and dragged by vehicle in Squamish, B.C.
Police say a baby and a pedestrian suffered non-life-threatening injuries after a vehicle struck a baby stroller and dragged it for two blocks before stopping in Squamish, B.C.
Senate expenses climbed to $7.2 million in 2023, up nearly 30%
Senators in Canada claimed $7.2 million in expenses in 2023, a nearly 30 per cent increase over the previous year.
Demonstrators kicked out of Ontario legislature for disruption after failed keffiyeh vote
A group of demonstrators were kicked out of the legislature after a second NDP motion calling for unanimous consent to reverse a ban on the keffiyeh failed to pass.
Tom Mulcair: Park littered with trash after 'pilot project' is perfect symbol of Trudeau governance
Former NDP leader Tom Mulcair says that what's happening now in a trash-littered federal park in Quebec is a perfect metaphor for how the Trudeau government runs things.
RCMP uncovers alleged plot by 2 Montreal men to illegally sell drones, equipment to Libya
The RCMP says it has uncovered a plot by two men in Montreal to sell Chinese drones and military equipment to Libya illegally.
Government agrees to US$138.7M settlement over FBI's botching of Larry Nassar assault allegations
The U.S. Justice Department announced a US$138.7 million settlement Tuesday with more than 100 people who accused the FBI of grossly mishandling allegations of sexual assault against Larry Nassar in 2015 and 2016, a critical time gap that allowed the sports doctor to continue to prey on victims before his arrest.
BREAKING Canucks goalie Thatcher Demko won't play in Game 2
The Vancouver Canucks will be without all-star goalie Thatcher Demko when they face the Nashville Predators in Game 2 of their first-round playoff series.
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.
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.