Ontario gas prices are set to hit an unprecedented high this weekend, says one expert.
In most parts of the province, prices are expected to reach $ 2.10 to $ 2.11 per liter on Saturday, said Dan McTeague, president of Canadians for Affordable Energy.
“Today, we saw a one-cent increase and that brought us to $ 2,039,” he said Thursday afternoon. “Tomorrow, it will go up five cents a liter back to $ 2,089, and unless something changes drastically, we’ll pay $ 2,109 on Saturday.”
“It ‘s a penny higher than we paid the last time we broke our record on May 18, when it was $ 2,099.
Gas prices have been rising significantly for months due to a shortage of supplies, fueled by sanctions against Russia for its invasion of Ukraine.
McTeague said summer demand is worsening the situation in Ontario as people venture outdoors with warm weather.
Depending on the outcome of Thursday’s provincial election, several parties have pledged to target rising tax prices.
Progressives-Conservatives promised during their campaign that they would temporarily reduce Ontario’s gas tax by 5.7 cents per liter for six months from July 1.
McTeague said he won’t be surprised if gas prices in Ontario reach $ 2.25 by the end of the summer.