Motorists are in for a shock as the price of regular gasoline in the GTA is expected to rise at least 12.9 cents per litre at midnight tonight, according to Liberal MP Dan McTeague
The veteran gas-price watcher says the price hike will bring the average cost of fuelling up in the GTA to an all-time high of $1.36.6 cents per litre.
McTeague predicts similar increases for Ottawa, Calgary and Kelowna, B.C., while he expects prices in Montreal to go up nine cents.
Another gas price watcher, Jason Toews of GasBuddy.com, isn't making predictions.
But he says fear over the damage that hurricane Ike could cause to refineries in Texas may have a ripple effect in Canada – U.S. gasoline wholesale prices jumped to unprecedented levels today.
The last time gas increased in anticipation of weather was when Category 5 Hurricane Katrina hit and gas jumped to 1.25.
Forecasters said today that Hurricane Ike was likely to come ashore in Texas late Friday or early Saturday as a Category 3, with winds up to 210 km/k.
-with files from The Canadian Press
this article is from the Toronto Star tonight. (emphasis mine)
let me get this straight...gas prices are going to go up because a hurricane might cause some damage in the gulf of mexico on its way to texas. nevermind that the oil that made this gas was bought at a lower price and that the companies are going to make a killing by jacking up the prices when there's no justification.
honestly though, shouldn't this be illegal?
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