Gas prices in Toronto set to soar to record high and here's when that will happen

Gas prices approaching record high in Toronto Year-over-year, gas prices have gone up 32.5 per cent and drivers across the city are noticing the difference on their wallets.

Gas prices in Toronto are expected to increase to record levels in the next few days.

According to Dan McTeague, with Canadians for Affordable Energy, gas prices in the Greater Toronto Area will increase two cents at midnight tonight and will hit $1.42 cents per litre.

The next increase will come on Thursday, when prices are expected to soar another two cents to $1.44 cents per litre.

McTeague told CTV News Toronto the reason for the spike has to do with increased demand and undersupply of oil globally.

He believes people in the Toronto area will be paying $1.50 per litre in just a few weeks.