Ontario Gas Prices Will Spike This Week & Experts Think It’s Going To Stay Pricey For Awhile
Public transit is starting to look real good. 🚌
A gas station in Toronto, ON.
Brace yourself, provincial drivers! A spike in Ontario gas prices is set to hit your local pumps this week and it'll have you dusting off that ten-speed faster than you can declare bankruptcy — again.
According to Gas Wizard, gas prices in Ontario will increase from anywhere from 4 to 9 cents per litre on Thursday, August 10, 2023, with experts warning that this is far from a slight bump in the road. Oh no, we're in for the long haul, friends.
For example, the City of Cornwall, a normally affordable place to fuel up, could see its pumps go from $159.9 cents per litre to $168.9 this week thanks to an astronomical hike. Meanwhile, bigger cities, like Toronto and Ottawa could see their prices spike by 4 cents, bringing totals to a dismal $170.9 cents per litre.
Gas analyst and fuel fortune teller Dan McTeague had previously warned Narcity that hitting $1.80 by the end of the summer was inevitable, thanks to skyrocketing demand and some pretty dire supply problems within the global energy markets.
"I don't see $2 a litre in the cards, but $1.80 is a given. It's only a matter of time before the bearish excuses run out," McTeague predicted. Fun.
The spicy gumbo of International oil market chaos, increased summer demand, and new regulations will no doubt be reaching into the savings accounts of many motorists in 2023, but believe it or not, things could be, and have been much worse.
According to the CAA (Canadian Automobile Association), Canada's average gas price as of Wednesday is $163.9 cents per litre, which is up from the average of $158.1 drivers forked over in July, but slightly down from last year's average of $166.7. There's a silver lining, if there ever was one.
Also, remember if you're hurting for cash, you can always save money on gas by driving smarter and filling up over the weekend. No, really. If you want the real skinny on how to save on fuel, as assessed by experts, you can check out Narcity's official guide here.
This article's cover image was used for illustrative purposes only.