Gasoline prices have officially reached a new record level in the Greater Toronto Area.

At midnight, the average price of a liter of regular gasoline rose by another four cents to 194.9.

However, at least one station offered gasoline at 192.9 cents per liter.

This new record level even surpasses the previous record of 190.9 cents per liter when a decline first occurred on March 10.

These figures are not expected to decrease anytime soon.

In fact, Dan McTeague, head of "Affordable Energy," stated earlier this week that he expects gasoline prices to continue rising and likely surpass $2 per liter by the weekend.

This expected rise is largely attributed to the war in Ukraine as well as the recent European Union decision to halt Russian gas imports by the end of the year.

McTeague said, "This situation will become worse than before, and it will last much longer. There is nothing on the horizon that could cause these prices to fall." "It is a very serious situation, and it will continue to add inflationary pressures on everything, and I believe it is time to start dealing with this issue seriously; not just inflation but energy affordability in particular."

In the same context, fuel prices have increased by about 50 percent since last May, when drivers at that time were paying about $1.30 per liter.

The increase in fuel costs has in turn led to a rise in prices of other consumer goods.

Editor: Dima Abu Khair