Gas prices in Toronto and the Greater Toronto Area (GTA) are on the rise once again, with a six-cent increase expected on Thursday, bringing the cost to 189.9 cents per litre at most gas stations. This uptick is part of a turbulent month for fuel expenses in the region.
Roger McKnight, En-Pro International’s chief petroleum analyst, predicts that regular gasoline prices will hit their peak in weeks. Various factors, such as refinery production, seasonal demand, and global oil price fluctuations, are driving this latest price surge.
Diesel users in the GTA will face an even sharper increase, with diesel prices jumping by 11 cents to 264.9 cents per litre. This trend of higher diesel costs is attributed to growing freight demands and tightening supply conditions.
Recent weeks have seen multiple price fluctuations in the GTA, with prices swinging back and forth following brief declines. In September alone, gas prices shifted from 187.9 cents on Sept. 10, dropping by eight cents on Sept. 11, before rising by seven cents on Sept. 12.
If Thursday’s projected increase to 189.9 cents per litre becomes a reality, it will mark the highest daily gas price since May when gas prices peaked at 192.9 cents per litre at most stations in Toronto and the GTA.
Stay informed about the latest gas price updates by visiting CityNews Toronto’s gas prices page regularly.
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