The price of gas is expected to spike in Niagara so now may be the best time to fill up.
The jump in southern Ontario this week in part is due to Russian attacks on Ukraine, according to experts.
President of Canadians for Affordable Energy, Dan McTeague, says after rising 7 cents a litre Thursday, gas prices are set to rise another 7 cents a litre today. This will push prices to about a 174.9 cents a litre.
In Niagara we are still hearing of stations selling gas for 159.0 a litre, however most stations are now sitting at 165.6.
McTeague adds that, “Unfortunately for motorists, it’s going to be a very painful couple of days, and it’s likely to get worse tomorrow in the GTA, Hamilton area as well, pretty much throughout all of southern Ontario,” McTeague said.
What if You Don’t Drive?
McTeague said people who don’t drive may not be concerned by these increases but the price of diesel, which is used to fuel public transit buses, will go up as well.
He raised the spectre of across-the-board inflation driven by rising fuel costs.
“Diesel is important because it’s the stuff that farmers use, that transportation uses, airlines, rail, so you can see where these factors are going to start to hit consumers in ways they possibly haven’t even bothered to consider imagining.”
Adding to the problem is the weakness of the Canadian dollar in the face of higher energy oil prices, which is adding to the cost of fuel, he said.