Diesel Price Shock: Southern Ontario Braces for $2.60 Thanksgiving Weekend as Gas Drops

Diesel prices in southern Ontario are set to surge to as high as $2.60 per litre over the Thanksgiving weekend, according to Dan McTeague, head of Canadians for Affordable Energy. The sharp increase comes amid growing fears over supply shortages, even as gasoline prices are expected to decline.

McTeague, a prominent energy analyst, attributed the diesel spike to tightening global supplies and logistical constraints. The projected $2.60 per litre would mark a significant jump from recent levels, putting additional pressure on trucking, agriculture, and other industries that rely heavily on diesel. Meanwhile, gasoline prices are forecast to drop, providing some relief to motorists.

The diverging trends highlight the complex dynamics of the fuel market, where diesel supply concerns are outweighing broader crude oil movements. If diesel reaches $2.60, it could exacerbate inflationary pressures on goods transportation and food prices. Industry watchers will be monitoring whether the supply crunch persists beyond the holiday weekend and how it might influence government policy or calls for relief.