TORONTO, Ont. - It may be wise to fill up on gas before 12 a.m., as fuel prices across the GTA are expected to soar.
Once the clock hits 12:01, Torontonians can expect to see 140.1 at the pumps - a 4.5-cent jump from the current price which may break records.
En-Pro's Roger McKnight told 680News the market has indicated that the price will jump because wholesale prices are at the highest level since April of last year - when gas in Toronto hit a record 140.8 cents per litre.
"Our refinery situation is an import situation. Even though demand is down for gasoline in both Canada and the United States, demand is high for exports, so all in all, gasoline inventories have to drop," he said.
Should costs rise beyond that level, it will be the highest since 2008, when prices first spiked to an all time record.
However, McKnight told 680News the price jump has nothing to do with gouging.
"Gasoline prices in Canada don't recognize the 49th parallel. Everything is dependent on what happens in the wholesale market in the United States," he explained.
680News took to the streets to find out how people plan on coping with the jump at the pumps, and most said this isn't unexpected.
"It's nothing new. Every summer we have this problem. Come summer, it gets better and we want to enjoy good driving here and there, and the gas prices go up," one woman said. "What can we do?"
"What are you going to do?" agreed one man. "It's up to the government to do something, but they don't care because they make taxes and that, right?"
"Let's boycott City Hall," said another man. "You gotta pay, right? Ride a bike."
McKnight is expecting another gas price increase Wednesday evening.
The high price at the pumps is also affecting auto sales.
