Drivers seeking relief from rising Ontario gas prices won’t find it at the pump on Wednesday, but then again, what else is new?
Dan McTeague, gas analyst and president of Canadians for Affordable Energy, reported via Twitter that prices could rise by 4 cents per liter on Wednesday, a new record.
The significant increase will bring total pump prices to 190.9 cents per liter for areas such as Toronto, Ottawa, Hamilton, Niagara and Kitchener, with Windsor and Barrie at 189.9.
The last time the cities reached such record highs was in March.
The biggest price increase will take place in Peterborough, where rates will increase by 9 cents to 186.9 cents per litre. But ironically, despite the huge jump, Peterborough remains one of the most affordable places to refuel next to Cornwall and Kingston.
Though no longer by a significant margin, the most expensive places for gas remain the northern cities of Thunder Bay and Sudbury, at a dismal 196.9 and 192.3 respectively.
So, when will this heist stop? Well, according to experts, that won’t happen anytime soon.
McTeague previously told Narcity that he predicts gas prices will continue to rise before settling at $2 a liter in the summer.
The depressing forecast came after rates rose for two days in the GTA, pushing prices to a dismal 188.9 cents a liter over the weekend.
Fortunately, steps are being taken to combat the problem.
Finance Minister Peter Bethlenfalvy announced last Thursday that excise taxes on gas will be reduced for six months due to rising prices.
The initiative will reduce the gas tax by 5.7 cents per liter and the fuel tax by 5.3 cents per liter for six months, starting July 1, 2022, if re-elected in June.