Ontario drivers should expect another price bump at the pumps at stations across the province this week.
Fuel prices at most Ontario stations are expected to rise 10 cents per litre overnight Wednesday, while some areas will see higher jumps, according to the website Gas Wizard, operated by petroleum analyst Dan McTeague.
Brampton, Hamilton, Markham, Mississauga, Niagara, Ottawa, Toronto and Windsor are among the areas set to see prices rise 10 cents to an average of 162.9, while Barrie and London will see nine-cent increases to 160.9.
Other areas, including Cornwall and Peterborough, will see increases of 15 and 18 cents, respectively, to 160.9 and 158.9, according to Gas Wizard.
Prices rose five cents last week at most Ontario stations.
Speaking to Global News last week, McTeague pinned the increase on several factors, including inflation, climbing interest rates, the weaker loonie, the war in Ukraine, Canada being unable to get much of its product to market, and the U.S. ending the draw-down of its strategic petroleum reserve.
As of Tuesday afternoon, the average price of gas in Ontario stood at 150.8 cents per litre, according to GasBuddy, up 2.1 cents from last month’s average but still well below the peak of 211.5 recorded in June.
Gas prices in British Columbia are the highest in the country, clocking in at an average of 219.8 as of Tuesday afternoon, up nearly 13 cents from last week’s average, and up 36 cents from last month.
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