Drivers should fill up their tanks today before gas prices are set to rise once again in the Greater Toronto Area, according to one gas analyst.
Gas prices are set to drop by another four cents per litre on Friday but at least one industry analyst is warning drivers that the relief at the pumps will be temporary.
However, President of Canadians for Affordable Energy Dan McTeague says prices are “bottoming out” and are expected to rise. “You have an example of very panicky paper traders, people not really physically involved with the delivery, the production of oil and gasoline. So what we're looking at is a scenario now developing, especially given what Saudi Arabia had to say just a couple of days ago that this market is dysfunctional. It's not reflecting the scarcity in supply more so than the issue of concern about demand,” McTeague said.
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