Gas prices across the GTA will likely surpass the $2 a litre mark sometime next month as Russia’s decision to attack Ukraine and the resulting economic sanctions it will face as a result puts pressure on the cost of oil, warns one industry analyst.
Dan McTeague, who is the president of Canadians for Affordable Energy, told CP24 on Thursday that he expects the price of gas across the GTA to go up eight cents this weekend to an average of $1.67 per litre.
That, however, could just be the beginning of a sustained run up in the cost of gasoline that McTeague said will ultimately drive up the price of other goods, including food.
