Toronto gas prices expected to hit $1.32 on weekend

Gas prices are on their way up in the Montreal area affected by the aftermath of Hurricane Harvey in the U.S

The Canadian average gasoline price has risen above $1.16 per litre ahead of the Labour Day long weekend.

Fuel prices skyrocketed in Windsor Thursday, reaching 123.9 per litre at many gas stations across the city, and the cost is only expected to continue.

Locally, prices across the Greater Toronto Area may hit between $1.329 and $1.339 per litre on September 2.

Analysts say average gasoline prices across Canada will continue to rise this weekend after jumping nearly eight cents per litre since hurricane Harvey roared ashore in Texas last Friday.

This is amid reports of shortages due to extensive flooding in Texas and other states along the U.S. Gulf Coast.

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In Vancouver, McKnight predicted little change on the weekend but McTeague says he expects a five-cent jump on Saturday.

"You could see prices moving up by the end of next week", he said, indicating another jump at the pump.

The Canadian average gasoline price has risen above $1.16 per litre, according to GasBuddy. "With winter coming, winter gas is cheaper, so we should see prices go down a bit, at least back to what people are more used to".

"The refineries are actually built to withstand a hurricane", he said. Marie, Thunder Bay, and Timmins have been reporting the highest gas prices, in the range of 131.9 to 133.9 cents per litre.

The online gas price monitoring site essencemontreal.com is showing the $1.35 price in several Montreal neighbourhoods, including Ahuntsic, Villeray, Saint-Henri, Saint-Léonard and downtown. That translates to about 75 cents USA per gallon, he said, adding typical U.S. increases in affected states have been only about 20 cents per gallon.

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