Toronto gas prices expected to spike due to Russia-Ukraine conflict

As the Russia-Ukraine conflict dominates headlines, car owners will soon be feeling its effects in their wallets as Toronto gas prices are expected to see an upwards spike.

Dan McTeague, president of Canadians for Affordable Energy, recently tweeted that despite the steep gas prices car owners are currently paying for, things are about to get even more expensive.

On February 24, he tweeted: “Gas price alert: unless markets make a dramatic shift, today and tomorrow will be the best days to fill up at the gas station across most of Canada.”

⛽️Price 🚨: Unless markets make a dramatic shift, today & tomorrow will be the best days to fill up @ the ⛽️⛽️ across most of 🇨🇦

As expensive as it is today, average #GasPrices are likely to rise 8-9 cents a litre for Saturday

Check out https://t.co/O1gQlGqQxW every afternoon

— Dan McTeague (@GasPriceWizard) February 24, 2022

McTeague also tweeted that, Canada currently imports 2,500 barrels a day from Russia at $60 a barrel.

2500 barrels a day @$60 a barrel https://t.co/2dWpnSvLaN

— Dan McTeague (@GasPriceWizard) February 24, 2022

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Gas Wizard, a site that predicts gas price changes in cities across Canada, listed that on February 25, it expects regular gas to reach 158.9 cents a litre, while premium is expected to go up to 183.9 cents a litre.

Gaswizard.ca

As of February 24, gas prices in Ontario have been hovering at 155.6/litre for the past two days, according to the Canadian Automobile Association (CAA).

CAA

Now might be a good time to fill up everything you can with plenty of gas.