A shift in Ontario gas prices could have people travelling home for Mother's Day paying a hefty price at the pumps this week.
According to gas analyst Dan McTeague, most of the province will see its gas prices rise by 5 cents on Wednesday, bringing totals for cities such as Toronto, Ottawa and St. Catharines up to 153.9 cents per litre.
"After a few weeks of nervous energy markets, #GasPrices appear ready for a comeback Wednesday with a 5 CT/L HIKE for all Ontario & Quebec incl #Toronto #GTA #Ottawa #Kitchener #Hamilton #LdnOnt which rises to 153.9 while #Montreal & Quebec City rise to 164.9," McTeague tweeted.
\u201cIn Case You Missed It \u2026\u201d— Dan McTeague (@Dan McTeague) 1683632173
The shift comes a week after the analyst warned Narcity of the instability of the markets, which he blamed on the undervaluing of oil, a trend that appears to be ending.
"Oil and fuel remain significantly undervalued and likely to remain fixed until the U.S. FED ends its war on inflation and raising interest rates to throttle the economy," McTeague said.
As if that wasn't dreary enough, Gas Wizard predicts that the increase will significantly impact the province's cheapest area for fuelling up, Peterborough, which could see its station up by 8 cents by midweek.
However, it's worth noting that even if predictions hold, the city will still be the cheapest place for gas prices in the province, expected to cap off at 149.9 cents per litre.
The only other spots in Ontario that could offer savings besides Peterborough are the cities of Thunder Bay and Cornwall, predicted to top off at around 151 cents per litre on Wednesday.
