The average price for gas in Ontario on Saturday is 198.9 cents per liter, down from Friday’s average of 199.7. The price is higher than last month’s average of 198.5 and last year’s average of 130.8 per litre, according to the CAA.
Ontario drivers continue to see eye-watering prices at the pumps as record-breaking gas prices in Canada have led to an increase in consumer goods and food prices, and impacted the way people live their lives.
High prices compounded with a jump in Canada’s inflation rate, which hit 7.7 per cent in May, the steepest increase in nearly 40 years, have hurt consumer sentiment, analysts say.
Average gas prices in the GTA:
Toronto—198.9
Peel—197.1
York—196.9
Durham—196.7
Here’s how we compare to the rest of Canada:
The average gas price in Canada is 200.0 cents per liter.
Gas prices are the lowest in Alberta, where prices are 188.8 per liter. Gas prices are the highest in British Columbia, at 216.6 per liter.
How we got here:
In January, gas prices started spiking across the country, and by February began shattering records as prices at the pumps soared.
At the same that COVID-19 restrictions started to lift and people began moving around again, driving up demand for gas to pre-pandemic level. The effects of Russia’s invasion of Ukraine and a flurry of international sanctions on Russia put pressure on an already strained supply and sent international crude prices into a tailspin.
Experts say the hardest hit by high gas prices are low-income Canadians who are more likely to spend a sizable chunk of their income on transportation and are less likely to afford electric vehicles in order to offset rising costs.
Top places to fuel up in the GTA:
Here are the least expensive places to get gas across the GTA, according to fuel affordability company GasBuddy:
- 189.9 at Costco, 1411 Warden Avenue, Scarborough
- 193.9 at Overseas, 16544 Hurontario Street, Caledon
- 193.9 at Costco, 90 Windfields Farm Drive, Oshawa
- 194.3 at Husky, 600 North Rivermede Road, Vaughan
- 194.5 at Amco, 2810 Markham Road, Toronto
- 194.5, Dost Petroleum, 13823 Hurontario Street, Caledon
- 194.6 at Petro-Canada, 5 Sandalwood Parkway West, Brampton
- 194.9 at Shell, 5706 Highway 7 East, Markham
- 194.9 at Lambert’s Pump, 2145 Dundas Street West, Toronto
- 194.9 at Shell, 13947 Hurontario Street, Caledon
Long-term outlook:
Gas prices dipped about two cents per liter on Saturday and are expected to rise three cents on Sunday, according to gas expert and president of Canadians for Affordable Energy Dan McTeague.
“The best day to get gas is (Saturday),” McTeague said.
The drop was due to unease in global markets about a potential recession, he said. McTeague said despite the price dip, short supply of fuel would ensure prices continue to rise after the weekend.
“There’s a tight supply of gasoline and diesel and that’s not going away,” McTeague said
He added weather along the United States Gulf Coast this summer, which meteorologists are predicting will be the seventh record-shattering Atlantic hurricane season in a row, could temporarily shut down oil refineries, causing supply chain issues and edge prices even higher.
Tips for saving money on gas:
Experts say consumers’ driving habits can affect how much money they spend on gas. Some simple tips to save money on gas include:
- Driving at a steady speed and avoiding abrupt movements, as most vehicles are most fuel-efficient when they’re running between 50 kilometers per hour and 80 km/h;
- Traveling light and removing heavy, added weight, such as hockey equipment in the trunk;
- Using apps that provide daily updates for gas prices in your local area, such as GasBuddy and Waze, which rely on crowdsourced information;
- Hitting the gas station earlier in the week, as prices tend to rise on Thursdays and into the weekend, some experts say;
- Using your vehicle less; trying to carpool more often; using public transit; and riding your bike or walking.
—with files from Ivy Mak
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