Ontario Gas Prices Have Already Broke Records & Are Set To Rise Again Tomorrow
Don't wait until Saturday to refill your tank!
If you're planning to wait out Ontario gas prices on Friday in the hopes that they'll drop down over the weekend, here's some bad news.
According to Gas Wizard, pump prices will rise by yet another cent on Saturday, bringing the total to 152.9 cents per litre in the GTA, and that's after they broke records on Friday.
Gas prices rose by 2 cents on Friday, pushing the total to 151.9 cents a litre for the GTA and 150.9 cents for most other cities outside the GTA.
The increase beat Ontario's previous all-time record, which was set back in early November.
According to Dan McTeague, gas price analyst and president of Canadians for Affordable Energy, the reasoning for the province's sudden spikes in gas prices could be directly linked to ongoing world events.
"Continued oil supply shortage in the face of surging global demand and escalation of tensions between Russia and the Ukraine has markets nervous about overall future supplies," he told Narcity.
McTeague also revealed that prices aren't expected to dip down anytime soon, so let that be a warning to all you procrastinators.
"We are also looking at another hike to 153.9 or 154.9 for Toronto and the GTA on Sunday," he added.
However, it isn't all doom and gloom, as at least four areas in Ontario will remain somewhat steady on its gas prices, including Thunder Bay, Kingston, Peterborough and Oshawa.
Oshawa, which sits at 151.9 cents per litre, and is not predicted to bump up to another cent tomorrow, so if you're nearby and a real stickler for cheaper gas, it could be worth the trip.