TORONTO GAS PRICES TO GO UP 7-CENTS AT MIDNIGHT: DAN McTEAGUE

Feb 14, 2019

By Jane Brown

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If you do a lot of driving, you might want to make time on Thursday to visit your favourite gas station.

The price of regular gas is going up Thursday at midnight from 97.9 cents a litre to $104.9 per litre.

Analyst Dan McTeague of gasbuddy.com says most refineries in Ontario deeply discount their prices to the point where not just gasoline, but diesel, is actually selling for less than what the market is offering.

“And for the past three weeks, I’ve never seen this in the twenty years or so that I’ve been doing this, where you actually see wholesale prices below that,” McTeague explained,”all that changes midnight Thursday night for Friday. We’re going to see a one time increase of seven cents a litre.”

McTeague there is an assumption by industry observers that oil and gas prices are expected to rise into the spring.

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