Gas Prices Expected to Jump 4.5 Cents a Litre Overnight

By Bizclik Editor
Share

 

The oil industry in Canada is forecasting a jump in gas prices overnight that could potentially equal up to 4.5 cents a litre.

The website Tomorrow’s Gas Price Today (TGPT) reported this prediction specifically for Toronto prices which are estimated to reach $1.40 per litre. The rise is attributed to the annual shift in gas prices from winter costs to summer costs.

TGPT website owner Dan McTeague was less than impressed with the industry’s explanation.

 

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK:

Click here to read the latest edition of Business Review Canada

“The fact is that fuel specs in Canada, unlike the US, don't change with the season. Tonight's increase is simply an excuse to ding motorists, safe in the knowledge that no one will challenge this nonsense,” McTeague stated on his site.

Will this prediction cause Canadians, specifically those in Toronto, to line up at the pump before midnight tonight? Fortunately for those who use diesel, no such an increase is forecasted. Diesel prices are expected to be between $1.24 and $1.28 tomorrow.

McTeague has previous industry experience, specifically as a Member of Parliament. Starting TGPT in 2008, McTeague started the site hoping it would help save Canadian consumers at the pump with his gas price predictions published a day in advance as well as to point out to policy makers and citizens the lack of competition in Canada’s energy sector. 

Share

Featured Articles

What is Nestlé CEO Laurent Freixe’s Action Plan?

Newly appointed CEO sets out action plan involving separating water brands into standalone business and boosting advertising and marketing spend

Will Mulberry Turn a New Leaf Under CEO Andrea Baldo?

International British luxury brand cuts quarter of head office staff as newly appointed CEO conducts strategic review

Female Board Members of Biggest UK Companies Paid 69% Less

Female board members of FTSE 100 companies are paid 69% less than male counterparts, as they find themselves frozen out of the biggest roles

Is This the Next CEO of LVMH?

Leadership & Strategy

How Burberry’s New CEO Is Going Back to Basics

Leadership & Strategy

Is Bayer CEO Bill Anderson Running Out of Time?

Leadership & Strategy