Massive gas price hike coming to Ontario

Ontario drivers will see a huge price hike at the gas pumps this week.

Dan McTeague, the president of Canadians for Affordable Energy, predicts both Ontario and Quebec will see a 14 cent per litre price increase overnight Thursday.

The price will jump from 165.9 cents a litre today (April 17) to 179.9 cents on Thursday in the GTA, McTeague posted on his website, Gas Wizard.

This follows steady increases this spring. The price went up to 162.9 cents/litre in early April beating the previous year’s high of 160.9.

The price hikes are being attributed to the switch over from winter to summer gas formulas, which is a more expensive process.

The recent unrest in the Middle East is also likely behind the increase, and the federal carbon tax hike has also pushed prices up.

McTeague said the gas prices are predictions but are highly accurate and based on more than 30 years of experience in the energy industry.

For more information, see Gas Wizard here.