Ontario Gas Prices Are Set To Hike Up Tomorrow So Say Goodbye To Your Savings
Discounts are over.
A Petro-Canada gas station in Canada.
After days of decline, Ontario gas prices are shooting back up to where they started this week.
According to Dan McTeague, gas analyst and president of Canadians for Affordable Energy, pumps will rise by 4 cents on Friday, October 21, 2022, bringing prices up to 163.9 cents per litre for most of southern Ontario, including Toronto, Ottawa, Hamilton, Windsor and Niagara.
\u201c\u26fd\ufe0f Price \ud83d\udea8: after falling 4 cents a litre since Tuesday, #GasPrices to RISE 4 cts/l to 163.9 or less for #Toronto #GTA #Ottawa #Kitchener #Hamilton #LdnOnt #Barrie #Cambridge #Kingston #Niagara #Windsor & most of s. #Ont \n#Montreal up same to 180.9\nhttps://t.co/O1gQlGIZM4\u201d— Dan McTeague (@Dan McTeague) 1666267186
The spike will effectively render the 4-cent discount the province had stacked up after recording decreases on Wednesday and Thursday completely null.
According to Gas Wizard, the last time the majority of regions offered an average of 163.9 cents per litre was a three-day streak that lasted from October 16 to 18, 2022. One step forward, two steps back.
If predictions hold, the incoming round of spikes will have Ontario's typical cheapest place for gas, Peterborough, offering 161.9 cents per litre thanks to a 6-cent increase.
As a result, Cornwall, a city that usually places second in terms of affordability, will take over the title, offering its motorists 160.6 cents per litre.
Other outliers include Barrie and London which could offer a slightly cheaper 162.9 cents per litre, so long as energy markets don't start fluctuating wildly. But, you never know.
Thankfully, the province's most expensive places to fuel up, Sudbury 175.6, and Thunder Bay, 178.9, aren't expected to record any change on Friday, allowing residents a total of two days to collect savings.
It's worth noting that diesel prices, which have been a growing concern recently, will be dropping by 2 cents for most of Ontario on Friday. So, it's not all doom and gloom.