"Through the roof": Toronto gas prices hit record high, set to jump even higher
Bad news for car owners: your bank account is going to take a big hit the next time you need to fill up the tank.
Toronto gas prices have hit a record high and are expected to continue to rise, according to Roger McKnight, chief petroleum analyst at En-Pro International, a company that helps businesses control the cost of their energy. In an interview with BNN Bloomberg, he said that there’s no relief anytime soon.
“The gasoline prices have gone right through the roof,” said McKnight. “Don’t forget: we’ve got that wonderful carbon tax added in that wasn’t there in 2014, I believe. So that’s adding 10 cents a litre right there.”
According to GasBuddy, prices in Toronto have shot up by almost 63 cents in just a month.
Gas Buddy
There was some temporary relief from February 10 until the 12th only for prices to bounce back even higher.
Residents are clearly less than thrilled.
toronto vancouver
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record-breaking gas pricesā š nawdia š (@nadiahle) February 14, 2022
Why am I coming back to Toronto and seeing gas price at $1.60 a litre :/
ā travelwithpapi.eth šØš¦š°š³ (@travelwithpapi) February 14, 2022
Living in Toronto means paying $7 a gallon for gas
ā ā” (@BurgundyThePoet) February 12, 2022
“There’s nothing really stopping this,” said McKnight. “I can see prices continuing to rise until consumers say, ‘That’s enough.'”
According to the Canadian Automobile Association (CAA), the current average price of gas in Toronto is 157.2 per litre. The lowest price this month so far was 144.8 per litre.
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