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Record-high gas prices on the way, experts warn

02/22/2012  | Ashleigh Smollet, CityNews.ca

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File photo of traffic. GETTY IMAGES/Tetra Images.
GTA residents should brace themselves for sky high gas prices in the next couple of months, according to the experts.

“You’re going to see the highest prices you’ve ever seen in your life come the end of April,” said Roger McKnight, En-Pro International Inc.

“I'm predicting a pump price for Toronto of between $1.43 and $1.47 a litre.”

McKnight blames simple supply and demand for the price hike. He says there are four refineries shutting down in the eastern U.S. and another in the Virgin Islands, which will take more than a million barrels of oil out of production.

In addition, more drivers are hitting the roads in India and China, causing demand to spike in that region, along with escalating tensions in Iran.

For many who drive as a profession, the potential price increase really hurts.

 “It will be hard for us, we'll lose 20 percent business, we have to charge customer and customer won't pay,” said airport limo driver Paul.

But for many drivers, fluctuating gas prices are a simple reality.

“We can't do much about it, that's what it is.  Fact of life,” said John

“There's not a lot we can do about it at this stage, you've got to fill up,” said Kathryn.
 
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