Gas prices have officially reached a new record level across the Greater Toronto Area and are about to exceed $2 per liter by the end of this week.
At midnight, the average price of a liter of regular gasoline rose by another four cents to 194.9.

However, there was at least one station announcing gas at 192.9 cents per liter.

Regardless of that, this number surpasses the previous record of 190.9 cents per liter, which was first set back on March 10.

On the other hand, drivers are unlikely to get relief anytime soon as well, as according to the head of Canadians for Affordable Energy, Dan McTeague, gas prices will rise to 195.9 cents per liter tomorrow, Saturday, before rising to 199.9 cents per liter on Sunday.

He indicated that gas prices could reach 200.9 cents per liter at some stations.

In an interview with CP24 earlier this week, McTeague warned that he expects gas prices to continue rising and are likely to exceed $2 per liter by the Victoria Day long weekend.

The expected increase is largely attributed to the war in Ukraine as well as the recent European Union decision to stop Russian gas imports by the end of the year.

"This will become more painful and will last much longer." 

McTeague also said on Wednesday: "There is nothing on the horizon that can lead to a decrease in these prices."

Adding, "It is a very serious situation, and it will continue to add inflationary pressures on everything, and I think it is time we start dealing with this issue seriously."

Explaining, "It is not just inflation but the ability of citizens to bear the energy costs in particular."

Gas prices have risen by about 50 percent since last May, when drivers were paying about $1.30 per liter.

This increase in pump costs has also led to a rise in prices of other consumer goods.

On another note, the local Canadian news agency CP24 spoke this Friday with a fish trader who makes regular trips from Nova Scotia with a trailer full of seafood that he sells to local restaurants, where he said he spent $1,600 on gas just to get to Ontario and now wonders if he can continue making the trip.

Filling his small truck alone on Friday morning cost $280.

Explaining, "I have clients and restaurant owners here who rely on my seafood product for their restaurants but at the same time I raise my prices to keep up with gas prices and they tell me they cannot afford this increase."

Adding that $1,600 to fill a truck and a trailer filled with seafood for 18 hours is tough, as I try to provide the best product to people in Ontario, but at the same time I will have to stop because I can’t afford this anymore."