Gas prices are expected to increase by 14 cents in the GTA on Thursday

GTA drivers are bracing for a double-digit hike at the gas pumps Thursday as prices are expected to increase by 14 cents at midnight.

Roger McKnight, chief oil analyst at En-Pro International Inc, told CityNews that gas pump prices will rise to 178.9 cents/litre at local stations. The price on Wednesday is 164.9 cents per liter.

The last time gas prices were this high was in August 2022.

McKnight said the increase is due to higher wholesale gas prices and applies only to gasoline. According to him, the price of diesel will increase by 0.4 cents.

Earlier this month the price rose to the highest level in six months after the implementation of a federal carbon price, also known as a carbon tax.

This increased the carbon tax on petrol by 3.3 cents per liter and on diesel by 4.1 cents per litre.

With files from John Markesan of CityNews