GAS PRICES COULD HIT $2.10 A LITRE IN TORONTO BY MAY LONG WEEKEND IF PUTIN'S WAR WORSENS IN UKRAINE

May 09, 2022

By Jane Brown

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The ongoing war in Ukraine could result in gas prices going even higher, with one leading energy price expert warning pump prices could jump 10-cents a litre over the next two weeks.

Dan McTeague is president of Canadians for Affordable Energy and says May 9th marks Victory Day in Russia and could prove pivotal when it comes to the trajectory of the war in Ukraine.

He says prices could go up another five cents across Canada if Vladimir Putin decides to intensify the assault on Ukraine or declare all-out war, and an additional five cents per litre next week if the situation worsens in Ukraine and ahead of the May long weekend.

The average price of gas in Canada is pushing towards $1.97 a litre.

Here in the GTA, the average gas price is just under $2 a litre.

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