Ontario gas prices expected to climb 12 cents overnight: analyst
CTV
The price of gas in Ontario is expected to climb even higher on Saturday, according to one industry analyst.
Dan McTeague, President of Canadians for Affordable Energy, said prices will jump by 12 cents on Saturday to $1.85 per litre. That follows an 11 cent uptick since Wednesday, totalling an increase McTeague said he has never seen before.
“23 cents a litre increase in the past 72 hours...It’s unprecedented and it does not bode very well for the summer,” he said speaking to CP24 on Friday.
The increase, in large part, is due to a seasonal switchover in the gas blends offered at stations during the summer months.
“In other words, the kind of gasoline you get tends to change from April 15 until September 15. That’s a thing, it’s been around for the past 30 years,” McTeague said.
