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Ontario Gas Prices Are Set To Rise This Week & They'll Actually Break Records

You're going to want to fill up your car before Thursday.

Ontario gas prices fluctuate so much that most drivers never really know what they're in for at the pump or how badly it will dent their bank accounts. Luckily, one expert is giving residents some warning of rising prices this week.

Dan McTeague, gas price analyst and president of Canadians for Affordable Energy, revealed in a tweet on Wednesday that prices will rise 2 cents a litre on Thursday, bringing a total of 149.9 cents a litre for Toronto and the GTA.

The same hike will bring prices to $148.9 cents a litre for cities like Hamilton, London, Barrie, Kitchener, Niagara, Windsor and Ottawa because the GTA can't help but be more expensive in every category.

As if that wasn't bad enough, Toronto could also see its gas prices reach record-breaking levels by Friday, thanks to another spike in the energy market.

"If energy markets hold up today, Toronto/GTA prices will rise 2 cents tomorrow to 149.9 cts/l, and then rise another cent Friday to 150.9 cents a litre. An all-time high. The rest of the province will also set a new record at 149.9 in most of its major cities by Friday," McTeague told Narcity.

"If markets stay the course, the increase will be 2 cents for Friday as well, pushing prices to 151.9 cents a litre for the GTA and 150.9 cents for most other cities outside the GTA. That would be 2 cents above the all-time record for Ontario set on November 4," he added.

According to Gas Wizard, Peterborough will see its gas prices drop by 1 cent bringing its total to 143.9 cents a litre by Thursday. So at least one region won't see their gas bill skyrocket.