The average price of gasoline in Ontario on Thursday is 206.0 cents per litre, down from Wednesday’s average of 206.6, above last month’s average of 173.8 and last year’s average of 127, 2 per liter, according to the CAA.
Ontario drivers continue to see eye-popping prices at gas stations, as record gasoline prices in Canada have led to a rise in the cost of consumer goods and food prices, and have impacted how people live their lives.
The high prices were compounded by a jump in Canada’s inflation rate, which hit 6.8 percent in April, one of the steepest increases in more than 30 years, and has hit consumer confidence, analysts say. .
Average Gas Prices in GTA
- Toronto: 207.0 per liter
- Durham: 204.9 per liter
Here’s how we compare to the rest of Canada
The average price of gasoline in Canada is 200.1 per litre.
Gas prices are the lowest in Alberta where prices are 169.5 per liter Gasoline prices are highest in Newfoundland and Labrador at 227.4 per litre.
how did we get here
In January, gas prices began to skyrocket across the country, and in February they began to break records as prices at the pump soared.
At the same time that COVID-19 restrictions began to lift and people began to move again, raising gas demand to pre-pandemic levels, a growing situation in Ukraine and a series of international sanctions against Russia put pressure. on already limited supply and sent international crude prices plummeting.
Experts say those hardest hit by high gas prices are lower-income Canadians who are more likely to spend a sizeable portion of their income on transportation and less likely to buy electric vehicles to offset rising costs.
The best places to fuel up in the GTA:
- 193.9 Shell, 13947 Hurontario Street, Caledon
- 194.9 Overseas, 16544 Hurontario Street, Caledon
- 194.9 at Dost Petroleum, 13823 Hurontario Street, Caledon
- 197.9 at Costco, 1411 Warden Avenue, Toronto
- 199.9 at Costco, 1570 Dundas Street East, Mississauga
- 201.9 at Costco, 90 Windfields Farm Street, Oshawa
- 202.3 at Canadian Tire, 4400 Dufferin Street, Toronto
- 202.6 at Circle K, 10187 Kennedy Road North, Brampton
- 202.9 at Canadian Tire, 1520 Shawson Drive, Mississagua
- 202.9 at Esso, 197 Bellamy Road North, Toronto
This Week’s Gasoline Trends
Dan McTeague, President of Canadians for Affordable Energy (CAE) and Gas Forecasting Operator place gaswizard.ca, says drivers should expect a one- to two-cent drop in prices on Friday.
McTeague says there is a continuing decline in gasoline production and availability right now. McTeague refers to the US Energy Information Administration reporting that total motor gasoline inventories decreased by 4.8 million barrels last week.
“So what does that mean? Well, continued upward pressure on gas prices, although I don’t think the market is ready to do that yet. On the supply side, this is a supply-driven issue.” , both in terms of gasoline and diesel production, although diesel is improving,” says McTeague.
McTeague says that it is the market that sets the benchmark prices for what we pay in much of North America, and the United States remains by far the largest consumer of petroleum products in the world.
Tips to save money on gas
Experts say that consumers’ driving habits can affect how much money they spend on gas. Some simple tips to save money on gas include:
- Drive at a steady speed and avoid sudden movements, as most vehicles are most fuel efficient when traveling between 50 and 80 kilometers per hour.
- Traveling light and removing heavy and added weight from the vehicle, such as hockey equipment in the trunk, could help fuel economy.
- Using apps that provide daily updates on gas prices in your local area, like GasBuddy and Waze, that are based on crowdsourced information
- Go to the gas station early in the week, as some experts say prices tend to go up on Thursdays and over the weekend
- And the obvious: use your car less, try carpooling more often, use public transportation, bike or walk
JOIN THE CONVERSATION
Anyone can read Conversations, but to contribute, you must be a registered Torstar account holder. If you don’t have a Torstar account yet, you can create one now (it’s free)
Reference-www.thestar.com