Gas prices in the Greater Toronto Area will have increased by around 20 cents this week and one analyst predicts that $2 per litre for gas “is very much in the cards” as we head into winter.
Dan McTeague, president of Canadians for Affordable Energy, said another four cent increase is expected on Saturday after gas prices increased three cents on Friday. The previous two days saw six- and seven-cent increases.
On Tuesday, GTA drivers saw gas prices around $1.609 per litre and by Saturday McTeague said drivers could see gas prices push to the $1.809 range or just under $1.81.
McTeague did say there is some hope for Sunday, when a drop of two or three cents is likely.
However, McTeague said Friday would still be the best day of the weekend to fill up if you haven’t already gassed up.
McTeague said it’s been an “unusual week” but that it might be the start of a “very choppy season” as we head toward Christmas and there is more of a demand for heating products with the colder weather.
“So yes, $2 a litre is very much in the cards,” McTeague said.
“I don’t think it’s going to happen this week or next week,” McTeague continued. “But as we head towards the colder weather, November, December, and into January and February, a safe bet that we will be looking again at not record-breaking prices but uncomfortable prices at $2 a litre.”
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