Ottawa gas prices flirt with $2 a litre
Ottawa motorists will be paying record prices to fill up the gas tank today, and prices are expected to continue to climb by the May long weekend.
Gas is selling at 199.9 cents a litre at some Ottawa gas stations this morning following a four cent a litre hike overnight.
Gas prices have been rising steadily over the past week, hitting 191.9 cents a litre on Wednesday and 195.9 cents a litre on Saturday.
"Highest prices and they are happening at least a week to two weeks before I could have predicted, in my wildest estimations, that we would see $2 by the May 2-4 weekend," Canadians for Affordable Energy president Dan McTeague told CP24 on Saturday.
The 199.9 cents a litre is a new record for regular gas in Ottawa. According to ottawagasprices.com, gas was selling for an average of $1.26 a litre on May 7, 2021, and 82 cents a litre on May 7, 2020.
McTeague says gas prices will hit $2.10 a litre by the May long weekend.
"Add another 10 cents a litre. We are going to look at another 10 cents in the next two weeks," McTeague said.
McTeague says the only thing that could cause prices to drop would be if Russian forces retreat in Ukraine.
"If Russia decides to back off look for gas prices to drop, as well as oil, that would probably lead to an unexpected decrease in prices," McTeague told CP24.
With files from CP24's Kerrisa Wilson.
CTVNews.ca Top Stories
Appeals court overturns Harvey Weinstein's 2020 rape conviction from landmark trial
New York’s highest court on Thursday overturned Harvey Weinstein’s 2020 rape conviction, finding the judge at the landmark #MeToo trial prejudiced the ex-movie mogul with improper rulings, including a decision to let women testify about allegations that weren’t part of the case.
BREAKING Honda to get up to $5B in govt help for EV battery, assembly plants
Honda is set to build an electric vehicle battery plant next to its Alliston, Ont., assembly plant, which it is retooling to produce fully electric vehicles, all part of a $15-billion project that is expected to include up to $5 billion in public money.
1 arrested in northern Alberta during public shelter order
Residents of John D'Or Prairie, a community on the Little Red River Cree Nation in northern Alberta, were told to take shelter Thursday morning during a police operation.
Secret $70M Lotto Max winners break their silence
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
Remains from a mother-daughter cold case were found nearly 24 years later, after a deathbed confession from the suspect
A West Virginia father is getting some sense of closure after authorities found the remains of his young daughter and her mother following a deathbed confession from the man believed to have fatally shot them nearly two decades ago.
Monthly earnings rise, payroll employment falls: jobs report
The number of vacant jobs in Canada increased in February, while monthly payroll employment decreased in food services, manufacturing, and retail trade, among other sectors.
First in Canada procedure performed at London, Ont. hospital
A London man has become the first person in Canada to receive a robotic assisted surgery on his spine. Dave Myeh suffered from debilitating, chronic back pain that led to sciatica in his right now and extreme pain in his lower back.
Doctors say capital gains tax changes will jeopardize their retirement. Is that true?
The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are.
Something in the water? Canadian family latest to spot elusive 'Loch Ness Monster'
For centuries, people have wondered what, if anything, might be lurking beneath the surface of Loch Ness in Scotland. When Canadian couple Parry Malm and Shannon Wiseman visited the Scottish highlands earlier this month with their two children, they didn’t expect to become part of the mystery.