Prices jumped by six cents Tuesday night to 166.9 cents a litre and are expected to jump another seven cents on Wednesday, followed by a three cent increase Thursday, reaching 176.9 cents per litre Friday.
The last time Ontario gas prices were this high was July 28 of this year, but Canadians for Affordable Energy president Dan McTeague says he doesn’t expect the price to go down anytime soon. “Demonstrably, what you’re seeing is the underinvestment in oil and petroleum production rearing its ugly head,” McTeague told CP24 Wednesday. “Supply continues to be seriously constrained. We are heading back to a $1.80 [per litre] or $1.85 [per litre] even.”He added that the provincial government’s adjusted gas tax rate, which has been reduced by around six cents per litre, is scheduled to return to its normal rate in January, which will further increase the price of fuel.
McTeague says that inflation, along with certain policies aimed at combating carbon pollution, including the federal government’s scheduled “clean fuel standard” tax, will continue to make energy affordability that much more challenging.
Didn't see this...*checks notes*...coming... 😒
TrudeauForTreason
Thank Trudeau and his carbontax which is doing nothing and going into general coffers. Follow the money!
Trudeau's Canada
Thank you. Put Tory to talk about it and will sound nice. And. Aceptable. Ok. 👌🏼
why? what's the reason for this? so frustrated about all these price increase, don't know how to live.
Good. I don’t need my money.
ITS NOT TRUDEAU’S FAULT!!!
And we have oil in Alberta. Lollllll 👏👏👏
👏👏👏
There is no reason for gas to ever be over 45cents a litre. Anything else is fraud.
Absolutely ludicrous
Why are these causes not affecting US prices?
Pushing the car is the more affordable method of travel these days
Price of oil per barrel is under 100$. How is gas going to over 2$? Makes no sense unless we’re being gauged
Good thing the BoC keeps raising interest rates to curb inflation especially since we are the World’s 4th largest oil producer.
TDotGinger Na, I think k $1.50 - $1.70/L will be the new norm
ONE analyst says lol
20¢ increase in Niagara falls today. Up to $1.79
Canadians do not care about gas prices otherwise they would not elect blackface clown to run Canada.
Amazing News - thank you
Who would've thought the feds attacking O&G would cause this, actually was there greenies plan all along
Lol “prediction” y’all mean whatever big oil says the price will be so everyone rushes to spend money before the increase. They win either way.
Recession and stimulus outputs waiting in trickle down effects are being achieved that associated to goal set
Mission bankrupt Canadian’s thanks to the 2 Stooges FKTruSingh
I'm shocked shutting down the economy would result this way.