Gas prices are expected to remain stable for the upcoming long weekend, but analysts warn that a spike could be on the horizon for next week.
According to experts, the average price for a litre of regular gasoline in the Greater Toronto Area is currently sitting at around $1.30. This is slightly lower than the national average of $1.36 per litre.
However, GasBuddy analyst Dan McTeague predicts that prices could see an increase of up to five cents per litre in the coming days. This is due to a combination of factors, including the recent surge in crude oil prices and the ongoing tensions in the Middle East.
McTeague also points out that the upcoming long weekend, which typically sees an increase in travel and demand for gas, could also contribute to a potential price hike.
Despite this, he reassures consumers that the increase will likely be short-lived and that prices should stabilize once again by the middle of next week.
In the meantime, McTeague advises drivers to shop around for the best gas prices and to use apps such as GasBuddy to find the cheapest options in their area.
He also suggests that drivers consider filling up their tanks before the weekend to avoid any potential price increases.
Overall, while gas prices may see a temporary spike in the coming days, experts believe that they will ultimately remain stable in the long run.
