Gas prices in GTA rise 14 cents Thursday

Those in Toronto, the GTA, Kitchener and Ottawa should prepare to see the price of gas rise to a height not seen in years.

By Patricia D'Cunha and Lucas Casaletto

Drivers in the GTA woke up to a double-digit spike at the gas pumps on Thursday, as the price rose 14 cents at midnight.

Roger McKnight, chief petroleum analyst with En-Pro International Inc., confirmed with CityNews the price at gas pumps increased to 178.9 cents/litre at local stations. The price as of Wednesday was 164.9 cents/litre.

The last time gas prices were this high was back in October 2022.

McKnight says the spike is due to price increases for wholesale gas and only applies to gasoline. He added that the price of diesel would increase by 0.4 cents.

There will be some slight relief on Friday, as McKnight expects the price to drop 4 cents tomorrow, dipping to 174.9 cents/litre at most GTA stations.

Earlier this month, the price rose to its highest levels in six months following the implementation of the federal carbon price, also referred to as the carbon tax.

The carbon tax on gasoline increased by 3.3 cents per litre, while the tax on diesel increased by 4.1 cents per litre.

With files from John Marchesan of CityNews

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