Ottawa motorists will be paying record prices to fill up the gas tank today, and prices are expected to continue to climb by the May long weekend.
Gas is selling at 199.9 cents a litre at some Ottawa gas stations this morning following a four cent a litre hike overnight.
Gas prices have been rising steadily over the past week, hitting 191.9 cents a litre on Wednesday and 195.9 cents a litre on Saturday.
“Highest prices and they are happening at least a week to two weeks before I could have predicted, in my wildest estimations, that we would see $2 by the May 2-4 weekend,” Canadians for Affordable Energy president Dan McTeague told CP24 on Saturday.
The 199.9 cents a litre is a new record for regular gas in Ottawa. According to ottawagasprices.com, gas was selling for an average of $1.26 a litre on May 7, 2021, and 82 cents a litre on May 7, 2020.
McTeague says gas prices will hit $2.10 a litre by the May long weekend.
“Add another 10 cents a litre. We are going to look at another 10 cents in the next two weeks,” McTeague said.
McTeague says the only thing that could cause prices to drop would be if Russian forces retreat in Ukraine.
“If Russia decides to back off look for gas prices to drop, as well as oil, that would probably lead to an unexpected decrease in prices,” McTeague told CP24.
With files from CP24’s Kerrisa Wilson.
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