Ontario Gas Prices Are Set To Reach $2 A Litre & Some Spots Could Be Even Higher
Gas prices could hit $2.10 a litre by the May long weekend.👇👀
If your vehicle is running on empty, there's bad news ahead! Ontario gas prices have continued to climb through the weekend, with costs expected to reach $2 per litre or even higher in the coming days.
On Sunday, May 8, residents of Ottawa hoping to fill up at the pumps will have found gas selling at 199.9 cents per litre, thanks to a four cent a litre hike overnight.
CTV News reports that prices in the region have been rising steadily this week, climbing from 191.9 cents a litre on Wednesday to 195.9 by Saturday, May 7.
Sunday's prices are record-breaking for regular gas in the capital, where fuel previously cost just 82 cents per litre in May 2020.
It's the same story in other parts of the province too, with Toronto residents also forking out 199.9 cents per litre as of Sunday.
The same figures apply in Brampton, the GTA, Kingston, Markham, Mississauga, Niagara and more, according to Gas Wizard.
Locals looking for the cheapest gas in Ontario should be looking towards Cornwall and Peterborough, where costs are 197.9 cents and 192.9 cents per litre respectively.
According to Canadians for Affordable Energy President Dan McTeague, these eye-watering prices aren't going anywhere soon, either.
He told CP24 that costs will likely soar well past the $2 per litre mark before the month is over.
“We're looking at $2.10; another 10 cents the next two weeks,” he said.
And the costs are climbing faster at the pumps than even the experts expected.
“[...] They are happening at least a week to two weeks before even I could have predicted in my wildest estimations, that we would see $2 by the May two-four weekend,” he said.
There's a chance this could change though, depending on what happens with the ongoing conflict in Russia and Ukraine. If Russian forces were to retreat, there could be a drop in prices.
“If Russia decides to back off, look for gas prices to drop, as well as oil, that would probably lead to an unexpected decrease in prices,” McTeague said.
It's not just Ontario feeling the pinch at the pumps. Gas prices all over the country have risen, with costs jumping by four to eight cents across urban areas at the weekend.
In Montreal, fuel now costs 207.9 cents a litre, while those in Quebec City are paying 204.9 cents.
In Vancouver it has reached 222.9 cents a litre as of Sunday.