The price of gas is set to reach 120.3 cents per litre overnight, according to an MP who monitors fluctuating gas prices.

So far, MP Dan McTeague is yet to be proven wrong about his predictions at the pumps.

With prices in Ottawa set to surpass $1.20 per litre, prices in west Quebec are also expected to go up by about two cents.

The rising costs at the pumps come as oil prices hit an all-time high above US$115 a barrel, Thursday.