10 cent/litre hike coming for gas prices
Posted Oct 4, 2022 01:39:53 PM.
We will see our first significant gas price increase of fall on Wednesday.
En-Pro International is predicting the price of gasoline will increase by 10 cents per litre overnight.
That will put the average price at just under $1.63 per litre at most local stations.
Early last week it was selling for as low as $1.48/litre.
The increase is one of the biggest single-day jumps Ontario has seen over the last decade. Wednesday’s new average price will be the most expensive in the region since August.
The rising gas prices follows a big jump in oil prices on Monday with OPEC getting ready to cut production. Refineries are also seeing a scale back in output with the seasonal switch over to wintertime gasoline blends.
Southern Ontario gas prices have been nowhere near as high as they’ve been in Western Canada. Metro Vancouver set a North American all-time record earlier this week when the price at the pumps reached $2.42/litre.
— With files from Michael Ranger and Mike Eppel
