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
Bodies found by U.S. authorities searching for missing B.C. kayakers
United States authorities who have been searching for a pair of missing kayakers from British Columbia since the weekend have recovered two bodies in the nearby San Juan Islands of Washington state.
'It's discriminatory': Individuals refused entry to Ontario legislature for wearing keffiyeh
Individuals being barred from entering Ontario’s legislature while wearing a keffiyeh say the garment is part of their cultural identity— and the only ones making it political are the politicians banning it.
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.
Saskatchewan households will continue to receive carbon tax rebate: Trudeau
Households in Saskatchewan will continue to receive Canada Carbon Rebate payments, despite the province refusing to remit natural gas levies to the federal government, Prime Minister Justin Trudeau said Tuesday.
'It's just so hard to let it go': Umar Zameer filled with relief and grief following acquittal in death of Toronto police officer
'We hoped for this day, but we were scared that it would not never ever come because it took so long.' That’s what Umar Zameer, the man recently acquitted in the death of a Toronto police officer, told CTV News Toronto in a sit-down interview on Tuesday.
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.
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.
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.
North Bay doctor accused of assaulting patient, threatening another
A North Bay doctor is facing charges after allegedly assaulting a patient with a weapon and threatening another person at the hospital, police say.