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Gas prices soar by 6 cents at GTA pumps

CityNews | posted Wednesday, Apr 12th, 2017

AppleMark

No, it’s not your imagination. Prices at the gas pumps in the GTA are up on Wednesday, way up.

As predicted by En-Pro, gas prices jumped by six cents at midnight, to an average price of 121.9 cents a litre.

Gas prices are now close to the highest level since September of 2014.

The price of crude oil has been on the rise in recent weeks with the cost of a barrel nearing US$54, amid tensions in the Middle East.

But, En-Pro gas expert Roger McKnight said greed is to blame for the rise in gas prices.

“This is a profit grab, led by Imperial Oil – Esso is the shepherd of pricing in southern Ontario. Whatever Esso does, everybody else follows,” McKnight said on Tuesday.

“Some people say this is the switch from winter gas to summer gas. I think that’s malarkey. First of all, we don’t live in a very hot climate, so you don’t really need summer versus winter gas.”

There are predictions that prices will hover around $1.20 a litre with summer on the horizon.

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