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Gas prices have not been this high since August 2022
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There is a price shock coming at the pumps.
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Gas in Ontario, including the GTA, will go up 14 cents a liter overnight for customers who fill up on Thursday, said Dan McTeague, president of Canadians for Affordable Energy.
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“So going from $1.65.9 (per liter) going to $1.79.9,” said McTeague adding that the increase will affect the entire province except northwestern Ontario, which gets its prices from the market prairies.
“That is the highest level since August, 2022, almost two years ago,” he added.
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McTeague said the price increase is because stations are switching to summer-blend gasoline.
“Around this time of year prices rise to reflect the new blend of gasoline, which is more expensive to make,” he explained. “Butane is used in the winter, for gasoline, but in the summer it is alkyaltes. Alkyaltes are very expensive.”
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“In the winter you want your ignition to start quickly in cold temperatures, you use volatile butane. You take that out in the summer. That’s a big difference. This is going to be around for a while and it could get higher,” McTeague said.
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McTeague also blamed the increase in gas prices in Canada on the increase in the carbon tax, the increase in the price of oil, and the weak Canadian dollar.
“It makes a bad situation worse,” he said. “It’s just another brick in the wall, another load on the camel’s back. The cost of denying our resources, blocking pipelines, is one of the most significant reasons why the Canadian dollar is so weak.”
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The post GTA gas prices to jump 14 cents a liter – Toronto Sun appeared first on Canada News Media.
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