{"id":517136,"date":"2026-03-06T01:46:08","date_gmt":"2026-03-06T01:46:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/517136\/"},"modified":"2026-03-06T01:46:08","modified_gmt":"2026-03-06T01:46:08","slug":"gas-prices-in-toronto-are-expected-to-go-up-again","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/517136\/","title":{"rendered":"Gas prices in Toronto are expected to go up again"},"content":{"rendered":"<p>Dan McTeague, president of Canadians for Affordable Energy, explains how high gas prices could go and what to watch out for at the pumps. <\/p>\n<p class=\"c-paragraph\">Prices at the pumps across Canada are expected to climb again as war rages on in the Middle East.<\/p>\n<p class=\"c-paragraph\">Dan McTeague, president of Canadians for Affordable Energy, says gas prices could jump two cents a litre on Friday to $1.489.<\/p>\n<p class=\"c-paragraph\">He predicts another six-cent hike on Saturday, pushing the cost to over $1.56 a litre.<\/p>\n<p class=\"c-paragraph\">Diesel prices are also expected to climb four cents a litre on Friday. With another 14-cent increase on Saturday, diesel could cost over $2 a litre.<\/p>\n<p class=\"c-paragraph\">\u201cI think once we get over Saturday\u2019s $1.55, people are going to realize this is a price we haven\u2019t paid in a very, very long time. The question is, how long? I think that\u2019s really up to strategists in terms of the conflict in that region,\u201d McTeague told CP24 on Thursday night.<\/p>\n<p class=\"c-paragraph\">Many energy experts fear that if the war continues, the price of crude oil could rise further, which could drive up prices at the pumps.<\/p>\n<p class=\"c-paragraph\">The price for a barrel of benchmark U.S. crude shot up 8.5 per cent <a href=\"https:\/\/www.bnnbloomberg.ca\/markets\/2026\/03\/05\/stocks-slump-as-oil-prices-climb-more\/\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.bnnbloomberg.ca\/markets\/2026\/03\/05\/stocks-slump-as-oil-prices-climb-more\/\">Thursday<\/a> to settle at US$81.01 per barrel. <\/p>\n<p class=\"c-paragraph\">Brent crude, the international standard, climbed 4.9 per cent to US$85.41 per barrel and is likewise near its highest price since 2024.<\/p>\n<p class=\"c-paragraph\">McTeague said the price of gas has leaped to 17 cents in the past five or six days, while diesel has risen to 40 cents.<\/p>\n<p class=\"c-paragraph\">\u201cThat\u2019s going to leave a mark that\u2019s going to affect the price of pretty much everything else, apart from the shock at the pumps,\u201d said McTeague, who is keeping a close eye on diesel prices.<\/p>\n<p class=\"c-paragraph\">He described diesel as a \u201cglobal workhorse\u201d when it comes to fuel, and any dramatic increases will have reverberations.<\/p>\n<p class=\"c-paragraph\">\u201cIt\u2019s going to cascade into other parts of the economy,\u201d McTeague said. \u201cDon\u2019t be surprised that by midweek next week, a lot of airline carriers and transport companies will be demanding fuel surcharges from their customers.\u201d<\/p>\n<p class=\"c-paragraph\">McTeague fears that without immediate de-escalation, Toronto drivers could see another round of increases next week.<\/p>\n<p class=\"c-paragraph\">\u201cThe sky is the limit,\u201d he said. \u201cAnd I could see a scenario where we head to $1.80 or $1.90 for gasoline here in the GTA. As far as diesel is concerned, $2.20 and $2.30 are certainly not out of the forecast.\u201d<\/p>\n<p class=\"c-paragraph\">With files from The Associated Press<\/p>\n","protected":false},"excerpt":{"rendered":"Dan McTeague, president of Canadians for Affordable Energy, explains how high gas prices could go and what to&hellip;\n","protected":false},"author":2,"featured_media":517137,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[712,45,49,48],"class_list":{"0":"post-517136","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-apple-news","9":"tag-business","10":"tag-ca","11":"tag-canada"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/517136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=517136"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/517136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/517137"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=517136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=517136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=517136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}