Rabu, 17 April 2024

GTA gas prices to jump 14 cents a litre - Toronto Sun

Gas prices have not been this high since August 2022

Published Apr 17, 2024  •  Last updated 4 hours ago  •  1 minute read

HST is applied to the cumulative amount at the pump, including the actual gasoline price, the provincial gasoline tax, the federal excise tax and the carbon tax.
HST is applied to the cumulative amount at the pump, including the actual gasoline price, the provincial gasoline tax, the federal excise tax and the carbon tax. Photo by Postmedia Network /file photo

There’s a price shocker coming at the pumps.

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Gas in Ontario, including the GTA, will go up 14 cents a litre overnight for customers filling up on Thursday, says Dan McTeague, the president of Canadians for Affordable Energy.

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“So going from $1.65.9 (per litre) going to $1.79.9,” said McTeague adding the increase will affect the entire province except for northwestern Ontario, which gets its prices from the prairies market.

“That’s the highest level since August, 2022, almost two years ago,” he added.

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McTeague said the reason for the price hike is that stations are switching over to summer-blend gasoline.

“Around this time of year prices go up to reflect the new blend of gasoline, which is more expensive to make,” he explained. “Butane is used in the winter, for gasoline, whereas in the summer it’s alkyaltes. Alkyaltes are extremely expensive.”

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“In the winter you want your ignition to start quickly in cold temperatures, you uses volatile butane. You take that out in the summer. That’s a big difference. This is going to be around for awhile and it could get higher,” McTeague said.

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McTeague also blamed the rise in gas prices in Canada on the carbon tax increase, the rising price of oil, and the weak Canadian dollar.

“It just makes a bad situation worse,” he said. “It’s just another brick in the wall, another load on the camel’s bank. The cost of denying our resources, blocking pipelines, is one of the most significant reasons why the Canadian dollar is so weak.”

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2024-04-17 16:10:31Z
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