Greater Toronto Area gas prices will soon equal the all-time record set just two months ago, as the pain at the pumps for drivers continues.
Industry analyst Dan McTeague, who is the president of Canadians for Affordable Energy, tells CP24 that the average cost of a litre of fuel will rise four cents at midnight on Wednesday to 190.9 cents per litre.’
That will equal the all-time high set on March 10.
“I expect we will be towards $2 a litre at some point around the May 24 weekend,” McTeague told CP24 last week. “I take no pride in saying this is going to happen but we have been warning the circumstances are certainly pointing towards that.”
Gas prices have been rising steadily for months, in the wake of Russia’s decision to invade Ukraine.
The cost of a litre of fuel dipped as low as 163.9 cents per litre in early April but the blip proved to be temporary.
