The cost to fill up the gas tank will hit a new record high at stations across Ottawa this weekend.
Gas prices jumped two cents overnight to 212.9 cents a litre.
Canadians for Affordable Energy president Dan McTeague says prices will rise another three cents a litre on Saturday, to 215.9 cents a litre.
“I don’t think it’s going to end there,” McTeague told Newstalk 580 CFRA’s Ottawa at Work. “The inflation numbers in the United States are pretty sobering (and) that might cause a bit of panic in energy markets, but that’s just going to delay in the inevitable.”
McTeague says the weakness of the Canadian dollar is partly responsible for the hike in gas prices. There is also tight global supply that’s been worsened by the Russian invasion of Ukraine.
The record for highest gas price in Ottawa was 214.9 cents, set last weekend.
According to ottawagasprices.com, gas prices were $1.25 a litre in Ottawa one year ago.
With files from CP24 web content writer Bryann Aguilar
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