Ontario gas prices set to see historic single-day jump
Gas prices in Ontario are expected to jump by 10 cents later this week, a single-day jump that one industry analyst says has only happened a few times this decade.
According to industry analyst Dan McTeague, prices at the pump will increase as of midnight on Wednesday.
“You don’t see that very often,” McTeague told CTV News Toronto Monday night. “Normally you see 10 to 15 cents a litre over a two-day period but never in one big fell swoop.”
The average price of a litre of fuel in southern Ontario currently sits at 152.9 cents per litre. McTeague warns that drivers can expect to see that go up to about 162.9 cents per litre.
The increase is one of the highest single-day jumps the province has seen in the last decade, he said.
“It’s a shock to the system.”
This comes after gas prices on the west coast reached an all-time high last week.
- FULL LIST: Gas prices in Toronto
On Friday, Metro Vancouver set a new North American all-time record at 241.9 cents per litre at some stations.
Prices have risen in other provinces as well, with Manitoba seeing steady increases for over a month, reaching $1.86 per litre as of Monday.
Though drivers in the GTA likely won’t be happy about Wednesday’s increase, Ontario is the province with the lowest gas prices in the country, according to GasBuddy.com.
At the same time, McTeague says “this is as good as it’s going to get” and that prices could continue to increase near the end of the week.
CTVNews.ca Top Stories
Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Suter scores late goal, clinches series for Canucks
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
The kids from 'Mrs. Doubtfire are all SUPER grown up now, and we're not OK
The adorable trio of child actors from the 1993 classic comedy 'Mrs. Doubtfire,' which starred the late and great Robin Williams, are all grown up and looking back on their seminal time together.
Parliamentary report on Emergencies Act decision is 18 months past due — and counting
The erstwhile group of senators and MPs studying the federal government's invocation of the Emergencies Act over the "Freedom Convoy" was supposed to present its findings in December. December of 2022, that is.
Drone footage shows Ukrainian village battered to ruins as residents flee Russian advance
The Ukrainian village of Ocheretyne has been battered by fighting, drone footage obtained by The Associated Press shows. The village has been a target for Russian forces in the Donetsk region of eastern Ukraine.
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Egypt media cite progress in truce talks as Israel downplays chances of end to war with Hamas
A delegation of the Palestinian militant group Hamas was in Cairo on Saturday as Egyptian state media reported "noticeable progress" in ongoing cease-fire talks with Israel while an Israeli official downplayed the prospects for a full end to the war.
Bystander livestreams during Charlotte standoff show an ever-growing appetite for social media video
Saing Chhoeun was locked out of his Charlotte, N.C., home on Monday as law enforcement with high-powered rifles descended into his yard and garage, using a car as a shield as they were met with a shower of gunfire from the direction of his neighbor's house.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.