Toronto gas prices expected to hit $1.32 on weekend

Gas Will Be More Expensive Than Ever Before In Montreal

Hurricane Harvey has wreaked havoc in Texas along the Gulf Coast, causing oil refineries to pre-emptively shut down production.

Between the service disruptions in the gulf due to the storm, and the busy travel weekend, you can expect the prices to rise even more.

Thursdays price at the pumps in the Greater Toronto Area was about 119.0 cents a litre — but was expected to hit 124 cents a litre on Friday and then soar to a projected 132 cents a litre on Saturday.'s senior petroleum analyst Dan McTeague issued a warning to drivers on Friday afternoon, noting the hike is on top of the five cent increase we're seeing today.

McTeague said although Alberta doesn't import gasoline from the US, the prices are based on the larger market conditions.

Even with gas prices spiking here in SC, the state still ranks as one the top 10 least expensive markets in the nation. At the start of the week, prices were about $1.14 a litre. Still, the rise in inevitable, said McTeague.

"Inventories are declining, wholesale prices are rising, and that will have an impact in Eastern Canada more than in Western Canada, just because of its proximity to that major market in the States", said Kent Group senior vice-president Michael Ervin.

McTeague said how much the price actually jumped up works out to be closer to nine cents, but the message is the same.

"We may be looking at a 10 percent or maybe 15 percent increase, but I don't expect that to last for a very long time".

Grant says while no one likes higher gas prices, the news is not as bad as it seems.

Canadian gasoline prices vary substantially by region and city, with Alberta, Saskatchewan, Manitoba, and most of the Atlantic provinces below the national average.

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