Toronto Gas Prices Could Rise As Much As 11 Cents In The Next Few Days
Better fill up early.
Drivers, beware - Gas prices in the GTA could see a sharp increase of up to 11 cents within the next few days.
Dan McTeague, a petroleum analyst at GasBuddy, states that "the the problem will not be resolved in September" and that the city will experience "a much longer, protracted period of time when prices are going to be significantly higher than we expect heading into the winter turnover season."
This past Labour Day weekend, the average gas price was 123.9 cents per litre, which reflects an approximate overall increase of about 9 to 10 cents from the Wednesday prior. The recent surge in costs is a byproduct of Hurricane Harvey, which has caused as much as 31 per cent of U.S. gas production to halt due to flooding.
McTeague expects gas prices to steady at around $1.30 until Thursday; however, there's still a chance of more increases as the gas refineries may take up to three weeks to start operating again.