Gas Prices in GTA to Surge, Then Drop

0:00Gas prices in the greater Toronto area are set to climb to a 4-year high tomorrow, jumping 2 cents per liter from $1.82 to $1.84. That's the most folks have paid since July 13, 2022, according to gas analysts Dan McTeege with Canadians for affordable energy. We saw a 5 cents spike yesterday, and prices have been pushing records over the last couple weeks, but don't sweat it too much. This bump is short-term, with a 4-cent drop expected Friday back down to $1.80 per liter. The wild swings at the pump tie right into global oil market drama, sparked by US President Donald Trump's latest comments shaking things up. Oil dipped from $101.38 a barrel, Tuesday to $99 Wednesday easing some pressure. Diesel's telling a different story, falling 4 cents yesterday to $2.29 per liter, with another 7 cents off tomorrow to $2.22, and 4 more Friday to $2.18.

1:03Seasonal shifts play in too, as winter ends around April 15, demand drops for diesel while refineries ramp up summer gasoline blends. Expect this pump roller coaster to smooth out as soon as market settle and warmer weather kicks in, keeping drivers on their toes but not broke. That's your update from Canada News today, powered by AI.