Fill up today: Gas hike coming Wednesday for most of Ontario

You might want to fill up at the pumps because a pricey hike is on the way.

Gasbuddy.com is forecasting a six cent rise for Wednesday at stations in the London area and for most of Ontario.

Dan McTeague, an analyst for GasBuddy, says the hike will put the average price in Ontario and Quebec to levels last seen in October 2014.

The average cost of gas in the London area on Tuesday is about 115.9 cents/litre. 

“This is going to be a far more expensive year,” McTeague said.

McTeague contributes the rise to an increased price of crude-oil, seasonal factors and the stress of the new carbon pricing.

“It’s attributable to the move over, the shift from winter-blended gasoline to summer-blend gasoline,” he said. “It costs more for refineries to produce and put additives in the gasoline to allow it to become less volatile under heat as temperatures are warming up, so is the price of fuel.”

McTeague expects prices to begin decreasing in early May.

With files from CTV Toronto.