Gas prices over $2 a litre again at most GTA stations
Posted May 29, 2022 12:01 am.
Last Updated May 29, 2022 3:04 pm.
The price of gas increased five cents at midnight across the GTA, pushing it over $2 for the first time in over a week. The price at the pumps now sits at 203.9 cents/litre at most stations.
It’s the eighth day this month that gas has been over $2, culminating in a high of $2.09 back on May 18.
Barring any changes over the next few days, the average price of gasoline as the month of May comes to an end sits at just under $2 a litre.
Gas prices have climbed by almost 70 cents since last May, when drivers were paying an average of $1.30 per litre.
According to the Canadian Automobile Association (CAA), six of the 10 provinces were reporting an average gas price of just over $2.
RELATED: Daily gas price update
Pending the outcome of the provincial election on Thursday, the Progressive Conservatives have promised to temporarily reduce the gas tax by 5.7 cents per litre for six months beginning on July 1.
Liberal Leader Steven Del Duca has said he would maintain that gas tax cut if elected, while also offering rebates for electric vehicles and incentivizing people to use more public transit.
NDP Leader Andrea Horwath has said she would regulate retail and wholesale mark-up of gas prices, getting the Ontario Energy Board to set a weekly price that includes reasonable profits for gas companies.
The Greens has not addressed the price of gas directly, saying the best way to address transportation costs is with systemic solutions, such as electrification. They are proposing rebates for electric vehicles, cutting transit fares in half and eliminating the need for long, daily trips to and from work.
Ontarians will also be getting more money from the federal government’s carbon-price rebate cheques. For the first time, the payments will come quarterly, rather than hidden as a lump sum in annual tax-return deposits. The first cheques in 2022 will be a double payment for two quarters in July, followed by quarterly payments in September and January 2023.
For a family of four, the payments will hit $745 in Ontario.
Files from The Canadian Press were used in this report
