Toronto motorists are expecting to see gas prices jump six and a half cents shortly after midnight on Monday.
Prices are expected to increase from an average of $1.33 to $1.39 cents per litre, according to Dan McTeague of TomorrowsGasPrices.com
The price will be the highest drivers have paid in the GTA. Motorists paid an average of 96.3 cents per litre one year ago.
McTeague said the prices don't reflect the cost of crude oil because a barrel of oil traded for $98 dollars on Monday. Instead, McTeague said that refineries are able to add obscene profit margins because they hold a monopoly in the market.
He said the price doesn't reflect supply and demand and that the government should get on board to curve the regulation of prices.
