Here's when gas prices will hit record highs in Ottawa this week
Ottawa motorists will be paying record prices to fill up the gas tank heading into the Mother’s Day weekend.
And a gas industry analyst predicts prices will continue to rise to at least $2 a litre in Ottawa and across Ontario by the May long weekend.
Gas prices were sitting at 190.9 cents a litre at most Ottawa gas stations Thursday morning. Some stations were selling gas for 191.9 cents a litre on Wednesday, a new record for gas prices in Ottawa.
Dan McTeague, president of Canadians for Affordable Energy, says gas prices will rise five cents a litre Friday morning to a new record high of 195.5 cents a litre.
According to ottawagasprices.com, the average price of gasoline in Ottawa one year ago was $1.25 a litre, while gas was selling for 79 cents a litre in May 2020.
The rising price for gas has some motorists only filling up half a tank in a bid to save money.
“I keep a half tank, and only put a half tank at a time in. Makes me feel better,” driver Donna Dewsnap said Thursday.
Jim Penny says the high cost of fuel has him thinking of leaving a gas vehicle in the garage.
“Starting to shop around and consider hybrid or electric vehicles because I do about 35 kilometres one way and sometimes I do that four times a day,” Penny said.
Ottawa gas station owner Bob Lavergne has a tip for motorists looking to save at the pumps.
“Better to buy in the evening, prices always seem to come down at night,” said Lavergne, who has owned a gas station in Kanata for 35 years.
“Seven o’clock, 9 o’clock at night is your cheapest bet to get gas.”
McTeague says he expects prices to rise to $2 a litre by the May long weekend.
“We’re going to be $2.05 probably by May 2-4, if not more. We could be less. I don’t see anything in the way that’s going to stop that,” McTeague told Newstalk 580 CFRA’s Ottawa at Work with Leslie Roberts.
“I think $2 is the reality for the summer for Ottawa, maybe a little higher.”
McTeague says the decision by the European Union to ban the purchase of Russian oil by the end of the year and the eventual lifting of COVID-19 lockdowns in China will suppress demand and increase costs.
“What scares me more than anything else right now is China is coming out of its COVID wave. When Shanghai opens up again, demand will go through the roof,” McTeague said, adding prices will “go through the roof.”
CTVNews.ca Top Stories
Asking rent prices up 9.3% across Canada, Ontario sees only decline: report
A new report says the average asking rent for a home in Canada in April was up 9.3 per cent compared with a year ago, while a slight month-over-month increase was also recorded for the first time since January.
What is basic income, and how would it impact me?
Parliamentarians are considering a pair of bills aiming to lift people out of poverty through a basic income program, but some fear these types of systems could result in more taxes for Canadians who are already financially struggling.
'I may have some nightmares:' Man survives being bitten by 2 sharks in Bahamas
A man who was bitten by two sharks in the Bahamas said Thursday he's 'thankful that I'm here' while sharing his story of survival.
Magnitude 4.2 earthquake reported off Vancouver Island's west coast
A 4.2-magnitude earthquake was recorded west of Vancouver Island early Friday morning.
Mexico's president accuses press and volunteer searchers for missing people of 'necrophilia'
The administration of Mexico's president has accused the press and volunteer searchers who look for the bodies of missing people of 'necrophilia,' comments that drew criticism this week.
WATCH Expecting an interest rate cut in June? Don't bet on it after new jobs data
Canada's labour market rebounded in April, adding more than 90,000 jobs, a staggering number of new positions after four consecutive months of little change.
Out-of-control wildfire burning near Fort McMurray
As of 9 a.m. on Friday, the wildfire burning 28 kilometres southwest of the northeastern Alberta city was 25 hectares in size.
Prince William says wife Kate is 'doing well'
Prince William said on Friday his wife Kate was 'doing well' in a rare public comment about the Princess of Wales as she undergoes preventative chemotherapy for cancer.
'Irate male' assaulted Newfoundland officers with block of cheese, police say
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.