TORONTO – Most drivers across southern Ontario are wondering why gasoline prices have jumped by about 4.5-cents a litre.
The increase puts the price in the Greater Toronto Area at $1.40 a litre while prices in the Ottawa area have risen by three-cents a litre.
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David Detomasi, an assistant professor of international business at Queen’s University, calls this morning’s increase “pretty shocking.”
And, Detomasi says for the most part, there’s no reasonable explanation.
Gas price watcher Dan McTeague says the oil industry usually tries to explain the increase by saying it’s to cover the cost of converting from winter to summer fuel.
But, McTeague, a former Liberal M-P and a harsh critic of the oil industry, calls that a “lame and well-worn excuse.”
He says fuel specifications in Canada — unlike the U-S — don’t change with the seasons.
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