Toronto-area gas prices expected to climb to record high overnight

Toronto and the surrounding GTA is set to see record gas prices over the next few days.

Dan McTeague, President of Canadians for Affordable Energy, told Global News Radio AM640 Toronto that as of midnight Thursday, the GTA will see an increase of two cents a litre to $1.449 — an all-time record high.

The previous record — $1.439 — was set back in June 2014.

McTeague said it’s due in part to a shortage in supply while demand is “sky rocketing.”

For those looking to gas up, he said to do so Wednesday or wait until Friday, when the price should drop a couple of cents.

However, McTeague warned GTA residents that he believes gas prices will be at $1.50 “sometime between now and before Christmas, perhaps even before Remembrance Day on Nov. 11.”