Gas prices in the Greater Toronto Area (GTA) are set to increase by 6 cents this weekend, according to En-Pro in a report to CityNews. This hike will result in a total rise of 12 cents over the span of two days.
The current price of gas sits at 184.9 cents per litre, with Friday seeing a jump of six cents. By Saturday, it is expected to climb to 190.9 cents per litre.
Recent developments on the federal level include the extension of the pause on the federal gas tax by the government. This measure aims to alleviate the impact of high gas prices and will now be in effect for several more months.
The initial suspension of the federal 10-cent-per-litre excise tax was implemented on April 14 by the Liberals in response to the surge in global fuel prices following the U.S. conflict with Iran. The ongoing tensions in the Strait of Hormuz continue to pose a threat to the smooth supply of oil, contributing to the sustained high gas prices.
Keyphrase: Gas Price Increase
