Ontario gas prices to jump this weekend after short-lived relief at the pumps

The relief at the gas pumps was only temporary as Ontario prices are heading towards a gradual increase in the next few days.

After most of Ontario saw two dips in prices on Thursday and Friday — coinciding with the start of the long weekend — Roger McKnight, Chief Petroleum Analyst with En-Pro International Inc., says it will increase 4 cents on Saturday and return to just over $2 a litre at most stations.

McKnight predicts fuel prices will rise ever so slightly on Sunday by 1 cent ($2.019).

Outside of the recent drop, which lasted only two days, gas prices have remained above $2 in Ontario since May 14. According to CityNews monthly figures, April’s high was 188.9 compared to 190.9 in March.

The Ontario NDPs are promising they would cap and regulate prices, a proposal the other three major parties dismissed as ineffective.

NDP Leader Andrea Horwath said Friday she would regulate retail and wholesale mark-up of gas prices, getting the Ontario Energy Board to set a weekly price that includes reasonable profits for gas companies.

“It is absolutely time that Ontarians get a break at the pumps,” she said at an announcement via Zoom as she recovers from COVID-19.

The Progressive Conservatives have passed legislation while in government to implement a 5.7-cent cut to the gas tax for six months starting July 1. Liberal Leader Steven Del Duca has said he would maintain that gas tax cut.

The Tories have suggested he can’t support the temporary gas tax cut while also supporting carbon pricing, which increases the cost of gasoline.

Green Party Leader Mike Schreiner said the best way to address transportation costs is with systemic solutions, such as electrification. They are proposing rebates for electric vehicles, cutting transit fares in half and eliminating the need for long, daily trips to and from work.

For Friday, May 20, GasBuddy.com, says the following pump locations have the lowest gas prices in the city:

• Ultramar at 6469 Jeanne D’Arc Blvd. in Orleans: 189.9
• Costco at 4315 Strandherd Dr. in Nepean: 189.9
• Ultramar at 600 Eagleson Rd. in Kanata: 189.9
• Petro-Canada at 3055 St. Joseph Blvd. in Orleans: 190.2
• Petro-Canada at 570 Terry Fox Dr. in Kanata: 190.9