Ontario motorists are being warned to brace for another increase at the pumps, with diesel prices expected to surge by as much as 15 cents per litre over the next two days while gasoline prices also continue to climb.
According to energy analyst Dan McTeague, Tuesday may be the best day for drivers to fill up before the latest round of increases takes effect.
McTeague predicts gasoline prices will rise by four cents per litre on Wednesday, followed by another one-cent increase on Thursday. Diesel users are expected to feel a much heavier hit, with prices forecast to jump five cents on Wednesday and another 10 cents on Thursday.
The fresh spike comes as global oil markets react to renewed uncertainty in the Middle East. Prices rose sharply after Iran reclosed the Strait of Hormuz and signalled resistance to joining another round of peace talks with the United States.
The Strait of Hormuz remains one of the world’s most critical energy corridors, carrying a major share of global oil and liquefied natural gas shipments. Any disruption there quickly impacts wholesale fuel markets, with effects reaching Canadian gas stations within days.
Fuel prices in Ontario have remained volatile since the conflict between the U.S., Israel and Iran escalated in late February. Rising crude oil costs, shipping risks and supply concerns have all added pressure to consumers already dealing with higher living expenses.
McTeague also repeated his long-standing advice for drivers looking to save money: avoid buying fuel before 6 p.m. in the Greater Toronto Area, when stations often maintain higher margins earlier in the day. Evening purchases can sometimes offer better value.
He also noted that prices outside large urban centres are often lower, meaning drivers heading out of the GTA may find cheaper fuel in surrounding communities.
For Ontario households and businesses that rely on diesel-powered transport, the coming increases could have wider ripple effects, including higher delivery and freight costs. With ceasefire talks still uncertain and energy markets on edge, analysts say pump prices may remain unpredictable in the days ahead.