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Ontario Gas Prices To Hit $1.79 Per Litre This Week

Ontario Gas Prices To Hit $1.79 Per Litre This Week – An analyst from Canada discloses the deep secret that may happen in Ontario very soon.

People looking to fill up with gas in Toronto will have to dig a little deeper into their wallets. The price of petrol is expected to rise by 14 cents overnight Thursday, according to gas and energy analysts.

Industry insider Dan McTeague, president of Canadians for Affordable Energy and owner of GasWizard, a website that tracks fuel prices, predicts that gas prices will rise to their highest level since August 2022. He describes it as a three-fold problem.

“It’s the perfect trifecta,” he told the CBC. “Tensions in the Middle East, the carbon tax increase and the switch-over which happens semi-annually from winter to summer petrol.”

The price of a litre of petrol in Ontario will now rise to approximately $1.79. This is the most expensive petrol price since August 2022.

According to McTeague, higher gas prices in the spring are due in part to the switch from the cheaper winter blend to the more expensive summer blend.

“There is a significant chemical difference. In the winter, we use butane as one of the primary mixtures,” he explained. “When it gets cold, you want something that ignites better.”

“When it’s warm, you don’t want something so volatile. To reduce environmental damage, you blend it with something called alkylates, which are extremely expensive.

McTeague predicts that gas prices will rise throughout the summer, but it’s difficult to say how much a litre of gas will eventually cost.

“We have to look at summer demand, which begins on the May 24 weekend,” McTeague said, adding that severe weather, such as hurricanes in the Atlantic, and geopolitical events influence oil prices per barrel.

McTeague predicts that gas prices will fall in September, but then rise again in January when a second carbon tax is implemented.

He also has some advice for people in the Greater Toronto Area who want to save a few dollars and cents on petrol.

“Gas stations only have control over nine cents a litre at best.” He went on to say. “I was in Peterborough yesterday.” I could still buy petrol there for $1.55.9. Also, I don’t expect people to pick up in Toronto and drive to Peterborough, but there are places, such as Oshawa or Hamilton, where you can find that kind of ‘wild west’ cutthroat competition in the final nine cents.”

He also recommends filling your tank in the evenings or on weekends to save some money.