{"id":6757,"date":"2022-05-14T06:36:52","date_gmt":"2022-05-14T06:36:52","guid":{"rendered":"https:\/\/ambassadornews.org\/?p=6757"},"modified":"2022-05-18T22:04:06","modified_gmt":"2022-05-18T22:04:06","slug":"record-gas-prices-expected-in-parts-of-ontario-this-weekend","status":"publish","type":"post","link":"https:\/\/ambassadornews.org\/en\/record-gas-prices-expected-in-parts-of-ontario-this-weekend\/","title":{"rendered":"Record gas prices expected in parts of Ontario this weekend"},"content":{"rendered":"

Many parts of Ontario are expected to see gas prices over $2 per litre for the first time ever this weekend as prices continue to surge across the country.<\/p>\n\n\n\n

While $2 per litre for regular gas would be a first for many parts of Ontario, the pain motorists have been feeling at the pump in recent weeks has become all too familiar.<\/p>\n\n\n\n

Prices in the province are expected to see a five-cent increase Saturday. According to Canadian gas price prediction website GasWizard<\/a>, the majority of cities in the province, including Toronto, London and Ottawa, are likely to reach $2.02 per litre.<\/p>\n\n\n\n

Analysts say the continued increase could even see average prices reach $2.20 per litre at this rate.<\/p>\n\n\n\n

\u201cWe’re looking at perhaps the new normal being anywhere from $2.10 to $2.15 maybe $2.20,\u201d Dan McTeague, president of Canadians for Affordable Energy, told CTV National News.<\/p>\n\n\n\n

As of Friday evening, the national average for gas was at $1.93 per litre. The highest prices in the country could be found in Newfoundland and Labrador, with gas stations charging $2.15 per litre. Alberta has the lowest prices with an average of $1.66 per litre.<\/p>\n\n\n\n

Meanwhile, major energy companies seem to be raking it major profits.<\/p>\n\n\n\n

Cenovus and Esso-owned Imperial Oil have both seen record-breaking profits in their first quarter reports. Cenovus reported $1.6 billion, an increase of $220 million from last year. Imperial Oil, meanwhile, brought in $1.17 billion; the best first quarter they\u2019ve had in 30 years.<\/p>\n\n\n\n

McTeague says national gas prices are likely to reach $2.10 by Victoria Day weekend<\/a>. <\/p>","protected":false},"excerpt":{"rendered":"

Many parts of Ontario are expected to see gas prices over $2 per litre for the first time ever this weekend as prices continue to surge across the country. 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