Jan 27, 2022
By Christine Ross
Be prepared for sticker shock at the pumps Friday as gas prices in the Greater Toronto Area are expected to reach an all-time high.
President of Canadians for Affordable Energy Dan McTeague says the price is set to rise more than two cents overnight to reach a new record high of $1.51.9 per litre.
That surpasses the last record high of $1.49.9 in November.
McTeague says the increase is being driven by a global shortage of oil and the recent tensions between Russia and Ukraine.
And there’s no relief in sight as the price could reach $1.65 a litre by the end of the year.