Drivers in the Greater Toronto Area should fill up their tanks immediately, as gas prices are expected to spike again overnight, according to a leading expert. Dan McTeague, president of Canadians for Affordable Energy, issued the warning on Tuesday, urging motorists not to delay refueling.
Significant Overnight Increase Expected
McTeague stated that the price of regular gasoline could rise by several cents per litre by Wednesday morning, adding to recent increases that have pushed prices above $1.80 per litre in many parts of the GTA. He attributed the hike to a combination of factors, including rising crude oil costs, seasonal demand, and the weaker Canadian dollar.
Expert Advice for Drivers
“Don’t wait until tomorrow,” McTeague said. “If you need gas, get it today because the price will be significantly higher in the morning.” He noted that the increase could be as much as 5 to 8 cents per litre, which would add roughly $3 to $5 to the cost of filling a typical 50-litre tank.
Broader Economic Context
The warning comes as Canada’s economy faces headwinds, with the country recently slipping into a technical recession. Rising fuel costs add to inflationary pressures, affecting household budgets and transportation costs across the region.
McTeague’s forecast aligns with broader trends in the energy market, where global supply concerns and refinery maintenance have kept prices elevated. He advised drivers to monitor prices and plan their refueling accordingly.
