If you’re planning on filling up your tank this weekend, you might want to do it before prices go up in Toronto.
Many Torontonians were excited in the past few days as gas prices dropped from the recent highs. However, unsurprisingly, gas prices are expected to rise again this weekend. According to En-Pro, the increase is expected to happen on Saturday, gas prices are expected to rise 4 cents at 12:01 a.m. on May 21, to an average of 200.9 cents/litre at most GTA stations.
Fuel prices have been on the rise in recent weeks, with prices reaching a new high of 209.9 cents/litre on May 18. This marks an increase of over 16 cents/litre from the previous high recorded in April, and is sure to cause headaches for motorists across the country.
With the summer driving season fast approaching, many people are already struggling to keep up with the rising cost of living, and this latest development is likely to put even more pressure on household budgets.
Gas prices have been elevated since late February mostly due to fuel supply shortages amid the war in Ukraine and international sanctions that have been placed on Russia. While the price of gas has begun to stabilize in recent weeks, experts say that the relief is only temporary and that prices are expected to rise again in the near future.
As a result, motorists are advised to fill up their tanks now while prices are still relatively low.
Do you think that the prices of gas will continue to rise in the near future? Let us know in the comments below.
