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Gas prices continue to rise
After going up by one cent this morning, prices are expected to rise by 0.4 at midnight, reaching 140.3 per litre.
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Gas prices are continuing to rise and could hit a three-year high tonight.

After going up by one cent this morning, prices are expected to rise by 0.4 at midnight, reaching 140.3 per litre.

Average prices are as much as about 20 cents a litre more than this time last year.

Gas-industry expert Dan McTeague says the recent spike is due to excessive speculation, partly because of the tensions between Russia and Ukraine.

The rising prices have convinced some drivers to wait as long as half an hour for cheaper gas at stations like the Costco in Scarborough, where you can save six cents a litre right now. The price can be as much as 10 cents lower at times.

"Any 10 cents makes a big, big difference if you have children at home," says Felicity, while waiting to gas up. "You can save one dollar or 50 cents to buy milk."

The good news coming from McTeague is that he thinks the prices are unsustainable and refineries are going to have to drop their prices soon.

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3 0

Gas prices are continuing to rise and could hit a three-year high tonight.

After going up by one cent this morning, prices are expected to rise by 0.4 at midnight, reaching 140.3 per litre.

Average prices are as much as about 20 cents a litre more than this time last year.

Gas-industry expert Dan McTeague says the recent spike is due to excessive speculation, partly because of the tensions between Russia and Ukraine.

The rising prices have convinced some drivers to wait as long as half an hour for cheaper gas at stations like the Costco in Scarborough, where you can save six cents a litre right now. The price can be as much as 10 cents lower at times.

"Any 10 cents makes a big, big difference if you have children at home," says Felicity, while waiting to gas up. "You can save one dollar or 50 cents to buy milk."

The good news coming from McTeague is that he thinks the prices are unsustainable and refineries are going to have to drop their prices soon.

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