Here's when gas prices will hit record highs in Ottawa this week
Ottawa motorists will be paying record prices to fill up the gas tank heading into the Mother’s Day weekend.
And a gas industry analyst predicts prices will continue to rise to at least $2 a litre in Ottawa and across Ontario by the May long weekend.
Gas prices were sitting at 190.9 cents a litre at most Ottawa gas stations Thursday morning. Some stations were selling gas for 191.9 cents a litre on Wednesday, a new record for gas prices in Ottawa.
Dan McTeague, president of Canadians for Affordable Energy, says gas prices will rise five cents a litre Friday morning to a new record high of 195.5 cents a litre.
According to ottawagasprices.com, the average price of gasoline in Ottawa one year ago was $1.25 a litre, while gas was selling for 79 cents a litre in May 2020.
The rising price for gas has some motorists only filling up half a tank in a bid to save money.
“I keep a half tank, and only put a half tank at a time in. Makes me feel better,” driver Donna Dewsnap said Thursday.
Jim Penny says the high cost of fuel has him thinking of leaving a gas vehicle in the garage.
“Starting to shop around and consider hybrid or electric vehicles because I do about 35 kilometres one way and sometimes I do that four times a day,” Penny said.
Ottawa gas station owner Bob Lavergne has a tip for motorists looking to save at the pumps.
“Better to buy in the evening, prices always seem to come down at night,” said Lavergne, who has owned a gas station in Kanata for 35 years.
“Seven o’clock, 9 o’clock at night is your cheapest bet to get gas.”
McTeague says he expects prices to rise to $2 a litre by the May long weekend.
“We’re going to be $2.05 probably by May 2-4, if not more. We could be less. I don’t see anything in the way that’s going to stop that,” McTeague told Newstalk 580 CFRA’s Ottawa at Work with Leslie Roberts.
“I think $2 is the reality for the summer for Ottawa, maybe a little higher.”
McTeague says the decision by the European Union to ban the purchase of Russian oil by the end of the year and the eventual lifting of COVID-19 lockdowns in China will suppress demand and increase costs.
“What scares me more than anything else right now is China is coming out of its COVID wave. When Shanghai opens up again, demand will go through the roof,” McTeague said, adding prices will “go through the roof.”