Analyst predicts Ontario gas prices will soar to unprecedented levels in 2022

Ontario gas prices to climb to levels not seen since 2022: analyst

“Get ready to shell out more money at the gas pumps, Ontario. Prices are set to skyrocket to levels not seen in nearly two years, leaving many motorists feeling the pain in their wallets. According to industry analyst Dan McTeague, a significant jump in gas prices is on the horizon for both Ontario and Quebec, with a 14 cent per litre increase expected overnight Thursday.”

The Rising Costs:
McTeague, the president of Canadians for Affordable Energy, revealed that Ontario will see gas prices reaching $1.79 per litre, while Quebec will climb to $1.88 per litre. This surge is attributed to the higher cost of summer blended gasoline, with the cheaper winter blend not making a comeback until the fall. With the combination of the summer blend switch, the carbon tax increase, and the rising price of oil, motorists can expect elevated gas prices throughout the spring and summer.

The Impact on Consumers:
As gas prices continue to rise, consumers are forced to dig deeper into their pockets to fuel up their vehicles. This increase not only affects individual drivers but can also have a ripple effect on the economy as a whole. Higher gas prices can lead to increased transportation costs for goods and services, ultimately driving up prices for consumers across various industries.

While the spike in gas prices may come as unwelcome news for many, it serves as a reminder of the volatile nature of the energy market. As consumers navigate these challenging times, it is crucial to explore alternative modes of transportation, such as carpooling or public transit, to mitigate the impact of rising gas prices. Additionally, advocating for sustainable energy solutions and supporting policies that promote energy efficiency can help create a more stable and affordable energy future for all.



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