This is the timeline for when gas prices will skyrocket in Ontario
Gas prices in Ontario are set to hit another record this week, one expert says.
Dan McTeague, President of Canadians for Affordable Energy, told CTV News Toronto that prices jumped two cents per litre on Wednesday to an average of $1.60 per liter.
Another major increase will come on Thursday, when gas prices are expected to jump seven cents to an average of $1.67 per litre.
"That's a price we have never seen or ever paid here," McTeague said. "It's well above the record, which is $1.61 per litre."
Gas prices are expected to take another major jump on Friday. Prices are forecast to jump another seven cents per litre to $1.74 per litre.
McTeague said the crisis in Ukraine is helping to fuel higher gas prices globally, and believes the cost of filling up will only get worse in the coming weeks and months.
"I can't see a scenario where prices won't go higher and remain higher," he said. "I think $1.90 per litre in the Greater Toronto Area is certainly within range … That could happen in the next four to five weeks."
McTeague said while gas prices always get the attention, he is more worried by the spike in diesel prices this week.
"That's up five cents tomorrow and another seven cents on Thursday," McTeague said. “That’s the one that drives food prices and the economy."
CTVNews.ca Top Stories
Inside Canada's chaotic response to avian flu
A CFIA official is calling it the 'largest animal health emergency that this country has ever had to face.' A joint IJF/CTV News investigation looks into Canada's response to the bird flu pandemic, and how it's ravaged the country's farms.
What Donald Trump's election victory could mean for Canada
Following president-elect Donald Trump's decisive election victory, there are sure to be significant knock-on effects for Canada. Here's a look at the different areas in which a second Trump presidency may affect Canadians.
Cuba left reeling after Category 3 hurricane ravages island and knocks out power grid
Cuba was left reeling Thursday after a fierce Category 3 hurricane ripped across the island, knocking out the country's power grid, downing trees and damaging infrastructure. No fatalities were immediately reported.
The world's 10 richest people got a record US$64 billion richer from Trump's re-election
Wednesday wasn't just a good day for Donald Trump. The wealth of the world’s 10 richest people also soared by a record amount, according to Bloomberg’s Billionaire Index.
Influencer is banned from future NYC marathons for bringing a camera crew to last weekend's race
A social media influencer from Texas was disqualified from last weekend's New York City Marathon and banned from future competitions after he ran the race with a camera crew on e-bikes in tow.
Car dealership employees accused of selling stolen cars: Toronto police
Two suspects accused of selling stolen cars while employed at a legitimate car dealership in Toronto are now facing a combined 176 charges, police say.
Sleepy during the day? You may be at higher risk for a pre-dementia syndrome, study finds
If you find yourself sleepy during your daily activities in your older age, you may need to consider it more than an inconvenience — since the fatigue may indicate you’re at higher risk for developing a condition that can lead to dementia, a new study has found.
B.C. court allows police to apply to dispose of evidence from Robert Pickton's farm
The B.C. Supreme Court says it has jurisdiction to order the disposal of thousands of pieces of evidence seized from Robert Pickton's pig farm decades ago, whether it was used in his murder trial or not.
Kingston, Ont. doctor fighting OHIP clawback of $660K in pandemic vaccination payments
A Kingston doctor is in a dispute with the Ontario Ministry of Health, which is trying to clawback more than $600,000 in OHIP payments.