Diesel prices jump 10 cents per litre across GTA at midnight Thursday
Gas prices also rising 3 cents as geopolitical turmoil in the Strait of Hormuz and refinery maintenance season tighten global fuel supply.
The day's top stories, food & events — every morning at 7. Unsubscribe anytime.
Diesel prices will jump 10 cents per litre at midnight Thursday across the GTA, while gas prices are set to increase 3 cents — the latest in a series of fuel-cost spikes that are rippling through transportation and inflation.
En-Pro Chief Petroleum Analyst Roger McKnight says diesel is the critical fuel. "It powers the economic engine," he said. High diesel prices lead to increased inflation, which in turn pushes interest rates up. "The real problem is diesel," McKnight added.
The price surge is being driven by geopolitical turmoil in the Strait of Hormuz caused by the war in Iran, which has tightened the global shipping supply of diesel and shortened refining capacity. Additionally, forecasters expect refinery maintenance season to cut diesel supply further as winter approaches.
The increase affects more than Toronto. Montreal will also see a 10 cent jump in diesel prices, while Winnipeg, Saskatoon and Calgary will see an 11 cent per litre increase. Halifax diesel prices will be up 14 cents, and Vancouver will see the highest spike of 15 cents per litre.
The facts
How much will diesel prices rise in the GTA?
Diesel prices across the GTA will jump 10 cents per litre at midnight on Thursday, August 27, 2026.
How much will gas prices rise in the GTA?
Gas prices in the GTA are set to increase 3 cents per litre.
What's driving the fuel price increase?
Geopolitical turmoil in the Strait of Hormuz caused by the war in Iran has tightened global diesel supply, and refinery maintenance season is expected to cut supply further as winter approaches.
Which Canadian city will see the biggest diesel price spike?
Vancouver will see the highest diesel price increase at 15 cents per litre.
