Why are gas prices high despite low oil barrel cost?

The price of crude oil is a significant factor influencing gasoline prices at the pump in Canada, but it's not the only determinant. Factors such as refining costs, taxes, distribution and marketing expenses, retail competition, and currency exchange rates also play crucial roles in shaping the final price of gasoline. Although there is a general correlation between oil barrel prices and gas prices, this relationship is not always direct or immediate due to these additional factors. Recent trends show that even when oil prices are lower, gas prices at the pump may not decrease proportionally, leading to concerns among Canadians about the roles of oil companies and governments in pricing. However, the dynamics of gas pricing are complex and influenced by various global and local factors. Understanding these factors can provide a clearer picture of why gas prices fluctuate and how they relate to the global oil market.

Tomorrow's Gas Price for Toronto

This is an accurate source of gas price predictions for Toronto. We also include Toronto's gas price history, as well as the weather forecast and trending news for the area.

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Toronto

Sunday - Apr 19, 2026
Regular
174.9 (-8¢)
Premium
204.9 (-8¢)
Diesel
187.9 (-17¢)
Saturday - Apr 18, 2026
Regular
182.9 (+9¢)
Premium
212.9 (+9¢)
Diesel
204.9 (+3¢)

Current Average Price
$1.639(Reported at: Apr 19, 2026 06:20)
$1.829 (Reported: Apr 18, 2026 18:20)
$1.829 (Reported: Apr 18, 2026 06:20)
$1.749 (Reported: Apr 17, 2026 18:20)
$1.749 (Reported: Apr 17, 2026 06:20)

News Headlines

Via Google News

Toronto Weather

Sunday April 19, 2026, 12:11 pm

9°C

Feels like
6°C

Overcast Clouds

Min: 3 °C

Max: 10 °C

Pressure: 1015 hPa

Dew Point: -4.74

UV Index: 4.36

Humidity: 36%

Wind: 5.25 m/s

Sunrise: 5:28 am

Sunset: 7:04 pm

Cloud Cover: 96%

Visibilty: 10000 m

Future Forecast:

Mon
Apr 20
6°C
-1°C
Humidity: 25 %
Wind: 5.63 km/h
Clouds: 75
Tue
Apr 21
10°C
2°C
Humidity: 53 %
Wind: 6.01 km/h
Clouds: 97
Wed
Apr 22
13°C
7°C
Humidity: 55 %
Wind: 3.21 km/h
Clouds: 4
Thu
Apr 23
10°C
7°C
Humidity: 57 %
Wind: 4.2 km/h
Clouds: 78
Fri
Apr 24
9°C
7°C
Humidity: 56 %
Wind: 5.8 km/h
Clouds: 82

About Toronto's' Gas Price Predictions

Here you will find tomorrow’s gas price for Toronto, Canada. Find out when you should fill up and what your gas or diesel is going to cost you.

These are gas price predictions, but are highly accurate and based on the 30+ years of energy industry knowledge and wisdom of The Honourable Dan McTeague, former Member of Parliament and current president of .