Toronto gas prices could rise more this holiday season, industry experts predict

Gasoline prices have risen by as much as 5 ¢ / liter in Toronto over the past two days, and it looks like they will not fall in the near future.

The price of gas on November 22 was $ 1.42 / liter and rose to $ 1.47 / liter on Wednesday.

According to Dan McTeague, president of the Canadians for Affordable Energy and former Liberal MP, Torontoians who drive a car can expect to drop more coins on gas the rest of the year.

“Despite that fact to we are selling our most important raw materials, oil and gas, we is likely to see -one continuation of record prices, he said.

That weakness in that Canadian dollars continues. “Between now and near the end of December, I do not see a scenario where prices are going to fall,” McTeague said. “Prices could move another 5 ¢ / liter up to the $ 1.50 range for Ontario.”

His forecast for next year looks even more bleak.

“At this point next year, I think we’ll be well into a territory that’s pushing much closer to the $ 1.70 / liter range.”

“In less than 52 weeks, that Clean Fuel Standard [regulation] coming into effect, and make none error; that government samples to sell that as whose it is 11 ¢ /liters. THello have seriously underestimated what is walks to Spoon on December 1, 2022, “McTeague further noted.

When you few to one fell swoop, it’s one increase of 15 ¢/ liter plus HST. That carbon tax is increasing In April. Then we are goes to see $ 1.70 liters right a cross Ontario. “

According to the Canadian Automobile Association, the national average gas price is $ 1.42 / liter today. The highest national average this year so far has been $ 1.47 / liter.

At the provincial level, Manitoba averages $ 1.36 / liter – the lowest in the country – while Newfoundland and Labrador take the national lead at $ 1.59 / liter.

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