Gas prices in some Ontario cities will climb over $2 a litre this weekend: analyst

WATCH ABOVE: Canadians for Affordable Energy says gas could hit $1.90 per litre sooner than expected in the Greater Toronto Area with even higher prices in the coming weeks.

Gas prices will continue to shatter records as the price at the pumps continue to rise this week.

For the first time, drivers in many Ontario municipalities will be paying over $2 a litre for gas.

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Toronto-area gas prices set to drop 4 cents on Thursday, but will rise again on Friday: analyst

“Overnight Friday to Saturday we’re going to see a five-cent a litre increase,” said Dan McTeague, president of Canadians for Affordable Energy.

This rise will have prices reach $2.029 per litre Saturday.

McTeague also predicts a six-cent increase overnight Saturday into Sunday, which will have gas prices sitting at around $2.08 by the end of the weekend.

The Greater Toronto Area saw a drop in prices on Thursday before rising to 197.9 cents per litre Friday at most gas stations.

Read more:

Gas prices in Toronto-area set new record high again, could rise further over the weekend

“Count on it to be worse. Count on it to get really bad between now and the May long weekend,” McTeague said in an interview with Global News.

McTeague said several factors including a weak Canadian dollar, supply and demand issues and the federal carbon tax have pushed gas prices higher.

The previous record was around $1.99 per litre, which was set Monday.

© 2022 Global News, a division of Corus Entertainment Inc.

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