Is This The Highest One Week Gas Price Hike In GTA History?

Posted September 12, 2008 12:00 pm.

This article is more than 5 years old.

Remember the good old days when gas prices only went up on a Thursday or a Friday, right before the weekend? Now the capricious nature of the markets and what some critics call the greed of the oil companies has led to daily changes that sometimes drive motorists to a new kind of road rage.

Friday’s 12.9 cent jump to $1.36.6 a litre is one of the highest sudden spikes in recent memory.

But despite the huge jump, this isn’t the all-time record increase. Not surprisingly, that came back in the summer of 2005, when Hurricane Katrina struck with a destructive vengeance, destroying refineries in the U.S. Gulf Coast.

Gas that had been selling for $1.02.3 the week before suddenly spiked to what was then an unheard of $1.28.6 a litre – a 26.3 cent increase in less than 7 days. But at least the oil companies had the good grace to wait until the storm hit before raising the price. Those days, it seems, are gone and this latest surge comes before Hurricane Ike has even reached its target.

Some of the amounts listed below would now be considered a bargain. But if you listen closely to the sweeping winds of history, you can hear drivers groaning about them back then, too.

Biggest Gas Price Jumps Of The Century

(Figures quoted are for a litre of regular in the GTA priced from one week to the next.)

Jan. 9, 2001: 63.4 cents
Jan. 16, 2001: 71.4 cents
Difference: 8 cents

March 4, 2001: 68.2 cents
March 11, 2001: 76.5 cents
Difference: 8.3 cents

Feb. 5, 2002: 52.5
Feb. 12, 2002: 61.6
Difference: 9.1 cents

Dec. 23, 2002: 68.5 cents
Dec. 30, 2002: 75.8 cents
Difference: 7.3 cents

May 20, 2003: 58.2 cents
May 27, 2003: 69.1 cents
Difference: 10.9 cents

July 1, 2003: 59.0 cents
July 8, 2003: 67.2 cents
Difference: 10.9 cents

Aug. 5, 2003: 66.7 cents
Aug. 12, 2003: 75.5 cents
Difference: 8.8 cents

March 16, 2004: 67.1 cents
March 23, 2004: 79.9 cents
Difference: 12.8 cents

April 6, 2004: 66.9 cents
April 13, 2004: 79.5 cents
Difference: 12.6 cents

Jan. 4, 2005: 72.8 cents
Jan. 11, 2005: 79.9 cents
Difference: 7.1 cents