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Fuel prices in Ontario are set to see a historic one-day jump

Fuel prices in Ontario are set to see a historic one-day jump

By Omayma othmani

Published: October 4, 2022

 

Fuel prices in Ontario are expected to jump by 10 cents later this week, a one-day spike, as an industry analyst says it has only happened a few times this decade. According to industry analyst Dan Mactig, prices at the pump will rise starting midnight Wednesday. Mactig also told CTV News Toronto: "You don't see that often, as usually the price per liter increases by 10 to 15 cents over two days." The average price per liter of fuel in Southern Ontario currently stands at 152.9 cents per liter, with Mactig warning that drivers can expect it to rise to about 162.9 cents per liter. This comes after fuel prices on the West Coast reached their highest ever last week.

Also, prices have risen in other provinces, with Manitoba experiencing repeated increases for over a month, reaching $1.86 per liter as of Monday. Although drivers in the GTA are probably not happy about the Wednesday increase, Ontario is the province with the lowest gas prices in the country, according to GasBuddy.com. Meanwhile, Mactig says: "This is good, but prices may continue to rise towards the end of the week.

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