Gas prices will rise to a new record high again in the Greater Toronto area.
Pump prices are expected to reach a record $ 212.9 per liter by Sunday at the GTA and most of southern Ontario, according to Canadians for Affordable Energy President Dan McTeague.
“The last (record) by the way was $ 209.9 in one day, May 18. So, not only here in Toronto (prices are rising). Montreal will see the same, Vancouver will see the same. The provinces on the Prairies … will see the same thing, they will see prices moving to record highs, “he told CP24 on Friday.
The latest jump in prices comes after months of a sharp rise in fuel costs in the GTA, due to fuel shortages, mainly affected by sanctions against Russia for its invasion of Ukraine.
McTeague said gasoline prices also tend to rise in the summer as people spend more time traveling.
He predicts that prices could reach $ 225.0 per liter at some point this summer.
“Maybe some relief comes from last night’s election if the government fulfills its commitments to cut taxes,” but given the overall magnitude of the shortage of diesel, oil and, most importantly, petrol during the summer season, you know, the sky is the limit. Anything is possible and you will continue to see broken records this summer. “
While in the campaign, Doug Ford’s progressive Conservatives – who won a second-term majority in the government – vowed to temporarily cut gas taxes in Ontario by 5.7 cents a liter for six months, starting July 1.
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