Dan McTeague, president of the Canadians for Affordable Energy, said prices would rise 12 cents on Saturday to $ 1.85 a liter. This follows an increase of 11 cents from Wednesday, adding to an increase that McTeague said he had never seen before.
“An increase of 23 cents per liter in the last 72 hours … It is unprecedented and does not bode well for the summer,” he told CP24 on Friday.
The increase is largely due to the seasonal transition to the gas mixtures offered at the stations during the summer months.
“In other words, the type of gasoline you get tends to change from April 15 to September 15. This is one thing, it has been around for 30 years,” McTeague said.
⛽️ Price: After rising 11 cents from Wednesday, #GasPrices WILL RISE 12 cents per liter on Saturday to 185.9 cts / l for #Toronto #Ottawa #Hamilton #LdnOnt #Kitchener #Barrie & all #Ont & # Qc will go up #Mon to 192.9.
Summer gas mixture is the main cause – Dan McTeague (@GasPriceWizard) April 15, 2022 Saturday’s prices will be close to the record highs seen in early March, when drivers in the province saw a liter of gasoline cost $ 1.90 in part due to the Russian invasion of Ukraine. However, refueling costs are not expected to fall any time soon – and drivers will have to wait to see a liter of gasoline sell for $ 2 in “several days” all summer long, McTeague warned. “Oil will remain close to $ 105 to $ 125 a barrel. Driving demand for summer is just around the corner. “I know many people will probably reconsider these prices and their desire to get on the road, but that is not going to reduce global demand for oil.” “We will see, note my words, $ 2 a liter many days all summer this year.”
