Today is the right time for drivers to fill up their fuel tanks as fuel prices are set to rise by six cents in the Greater Toronto Area by the end of this weekend, and it is likely to reach $2.10 per liter during the next week.

Drivers breathed a sigh of relief today at the pumps as prices dropped 10 cents to $1.966 per liter in the Greater Toronto Area.

However, Affordable Energy CEO Dan McTeague said prices are expected to rise over the next two days.

"We will see a four-cent increase on Saturday, and although the markets have not yet stabilized, it is clear that we are probably looking at a two-cent increase (on Sunday). In other words, you got 10 cents today, and it will rise from now until Sunday by about six cents per liter."

On Wednesday, gas prices reached $2.099 per liter, and McTeague says fuel prices will rise higher than that next week.

Next week, Americans start the unofficial kick-off of the summer driving season. This will put significant pressure on fuel prices for us here in Canada. They really set the prices for us, as they represent a large market. I expect that we will likely return to $2.10 per liter during the next week or so."

Fuel prices have risen since late February due to fuel supply shortages amid the war in Ukraine and the resulting international sanctions imposed.

McTeague added: "It looks like summer, with average prices reaching $2.15 per liter here in the Greater Toronto Area, and across most of Southern Ontario."