Toronto gas prices just broke a new record after six cents per litre increase overnight
Gas prices have reached yet another new record after rising six cents per litre overnight.
As of midnight the average price of a litre of fuel across the Greater Toronto Area is now 208.9 cents per litre, according to Canadians for Affordable Energy President Dan McTeague.
The latest jump means that gas prices have now risen 11 cents per litre since Friday, with no real relief in sight due to supply shortages brought about by Russia’s decision to invade Ukraine and the international sanctions that have been imposed a result.
“When you look at the fundamentals, supply and demand for diesel and for gasoline going into the summer driving season, not only is it low or critically low and that is one of the main reasons why prices are going up but the second factor is the Canadian dollar,” McTeague told CP24 last week. “It continues to show weakness despite the fact that in the old good old days when oil was $100 a barrel we would be on par with the U.S. dollar. The fact that we're not is costing you 33 cents a litre.”
Gas prices have risen by about 60 per cent since last May, when drivers were paying around $1.30 per litre to fill up.
CTVNews.ca Top Stories
Western University researchers unlock potential 'cure' for ALS
New research out of London, Ont.'s Western University is shedding light on a potential cure for ALS, in which the targeting of the interaction between two proteins can halt or fully reverse the disease's progression.
What Michael Cohen said on the stand in Trump hush money case
The star prosecution witness in Donald Trump's hush money trial took the stand Monday with testimony that could help shape the outcome of the first criminal case against an American president.
Collapsed Baltimore bridge span comes down with a boom after crews set off chain of explosives
Crews conducted a controlled demolition Monday to break down the largest remaining span of the collapsed Francis Scott Key Bridge in Baltimore.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
A child killer legally changed his name in B.C. The province is trying to stop that from happening again
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Security video caught admitted serial killer disposing of bodies in Winnipeg garbage bins
Security video caught admitted serial killer Jeremy Skibicki on multiple late-night outings, disposing of body parts in nearby garbage bins and dumpsters in the middle of the night.
Kamala Harris drops F-bomb during White House live-stream
U.S. Vice-President Kamala Harris used a profanity on Monday while offering advice to young Asian Americans, Native Hawaiians and Pacific Islanders about how to break through barriers.
Behind the barricades: How protesters spend their first days in a new encampment
Students in Montreal describe life in a newly erected encampment in Montreal as a whirlwind of preparations, from facing rain and a potential police crackdown to setting up a space for the exchange of ideas.
Next 48 hours will be 'extremely challenging' for B.C. wildfire crews near Fort Nelson: officials
A wildfire burning dangerously close to Fort Nelson, B.C., has grown to more than 50 square kilometres, and officials are warning that the blaze's behaviour is expected to become more volatile over the next 48 hours.