Pain at the pumps: Ottawa gas prices hit record levels

Ottawa drivers are paying record prices at some gas stations today, and prices are set to rise even more by the weekend.

Gas prices increased four cents a litre at stations across Ottawa and southern Ontario Wednesday morning to an average of 190.9 cents a litre.

Some stations in Ottawa were selling gasoline for 191.9 cents a litre.

President for Canadians for Affordable Energy Dan McTeague told CP24 that Imperial Oil decided to increase its retail margin by one cent a litre, raising prices to 191.9 cents a litre.

McTeague says prices are expected to drop one cent a litre on Thursday before increasing a nickel on Friday.

“Unless things change dramatically, we’re looking at a scenario be 194.9, maybe even 195.9,” McTeague said, adding prices could rise to $2 a litre by the May long weekend.

McTeague says the European Union’s decision to ban the purchase of Russian oil by the end of the year and China eventually lifting lockdowns will drive up the price of oil by $10 a barrel, increasing the cost of gasoline.

According to ottawagasprices.com, the average price of gasoline in Ottawa was $1.24 a litre one year ago and 79 cents a litre on May 4, 2020.

McTeague says there’s no relief in sight for motorists.

“This is going to get a lot more painful and it is going to be a lot more long-lasting,” McTeague told CP24.

“There really isn’t anything in sight that would cause these prices to drop.”

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