Drivers should fill up their tanks today as gas prices in Ontario are forecast to rise in the next few days, with one industry analyst warning that more hikes could be coming.
just after midnight on Wednesday, bringing the average gas price to 162.9 cents a litre. McTeague previously noted that it is one of the highest one-day hikes in the province in the last decade."So if you see $1.52.9 here in the GTA or Ottawa, or anywhere across most of southern Ontario, you might want to fill up today. I don't see this getting better," McTeague said.
"And it's really being driven by global circumstances, in particular, OPEC that's likely to cut oil production…to get oil prices back up to where they believe it should be, which is $90 a barrel versus $76 $77." The cut would further squeeze the already tight oil supply, which is a concern as McTeague noted that demand continues to be strong.
"And I think many analysts believe -- certainly the markets are suggesting that there should have been demand destruction by now…I think they're all being proven significantly wrong," McTeague said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘I don't see this getting better’: Gas prices in Ontario will hit a two-month high on Thursday.Drivers should fill up their tanks today as gas prices in Ontario are forecast to rise in the next few days, with one industry analyst warning that more hikes could be coming.
Read more »
Sudbury gas at around 153.6 to start the work weekOntario gas price average is 150.2
Read more »
Sudbury gas at around 152.3Ontario gas price average is 150.1
Read more »
Ontario gas prices set to see historic single-day jumpGas prices in Ontario are expected to jump later this week, a single-day jump that one industry analyst says has only happened a few times this decade.
Read more »
Ontario gas prices set to take one of the biggest one-day jumps in a decadeGas prices in Ontario are projected to jump by 10 cents later this week, industry analyst Dan McTeague tells CP24.
Read more »