Gas prices rise 14 cents on Thursday

Those in Toronto, the GTA, Kitchener and Ottawa should prepare to see the price of gas rise to a height not seen in years.

By Patricia D'Cunha

Posted Apr 17, 2024 09:39:13 AM.

Last Updated Apr 18, 2024 11:29:36 AM.

Drivers felt the pain at the pumps Thursday morning when prices took a double-digit spike as of midnight.

The price of gas increased by 14 cents.

Roger McKnight, chief petroleum analyst with En-Pro International Inc., tells CityNews the price at gas pumps rose to 178.9 cents/litre at local stations. The price of gas is expected to drop four cents at midnight on Friday.

The last time gas prices were this high was back in October 2022.

McKnight said the spike is due to price increases for wholesale gas and only applies to gasoline. He adds the price for diesel will increase by 0.4 cents.

Earlier this month, the price rose to its highest levels in six months following the implementation of the federal carbon price, also referred to as the carbon tax.

That saw the carbon tax on gasoline go up by 3.3 cents per litre, while diesel increased by 4.1 cents per litre.

With files from John Marchesan of CityNews

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