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
Stormy Daniels describes meeting Trump during occasionally graphic testimony in hush money trial
Stormy Daniels took the witness stand Tuesday at Donald Trump's hush money trial, describing for jurors a sexual encounter the porn actor says she had with him in 2006 that resulted in her being paid off to keep silent during the presidential race 10 years later.
Former homicide detective explains how police will investigate shooting outside Drake's Bridle Path mansion
Footage from dozens of security cameras in the area of Drake’s Bridle Path mansion could be the key to identifying the suspect responsible for shooting and seriously injuring a security guard outside the rapper’s sprawling home early Tuesday morning, a former Toronto homicide detective says.
Jeremy Skibicki has 'uphill battle' to prove he's not criminally responsible in Winnipeg killings: legal analysts
Accused killer Jeremy Skibicki could have a challenging time convincing a judge that he is not criminally responsible for the deaths of four Indigenous women, a legal analyst says.
Bye-bye bag fee: Calgary repeals single-use bylaw
A Calgary bylaw requiring businesses to charge a minimum bag fee and only provide single-use items when requested has officially been tossed.
Air France flight from Paris to Seattle lands in Iqaluit after heat smell in cabin
A plane travelling from Paris to Seattle was forced to make an emergency landing in Iqaluit after there was a heat smell in the cabin during the flight.
CFL suspends Argos QB Chad Kelly at least nine games following investigation
The CFL suspended Toronto Argonauts quarterback Chad Kelly for at least nine regular-season games Tuesday following its investigation into a lawsuit filed by a former strength-and-conditioning coach against both the player and club.
Boy Scouts of America changing name for first time in 114 years, aiming for inclusivity
The Boy Scouts of America is changing its name for the first time in its 114-year history and will become Scouting America. It's a significant shift as the organization emerges from bankruptcy following a flood of sexual abuse claims and seeks to focus on inclusion.
Alcohol believed to be a factor in boating incident after 2 men die: N.S. RCMP
Two Nova Scotia men are dead after a boat they were travelling in sank in the Annapolis River in Granville Centre, N.S., on Monday.
Security guard shot, critically injured outside of Drake's Toronto mansion
A security guard working at Drake’s Bridle Path mansion in Toronto was seriously injured in a shooting outside the residence early Tuesday morning, police said.