Will gas prices continue to rise?
The prices at the pumps jumped overnight, with gas hitting $140.9 in the Barrie area on Friday.
According to one expert, the reason behind the recent increase is a familiar one.
"We're paying a lot because, of course, supply is not meeting demand," explains Dan McTeague, with Canadians for Affordable Energy. "Week after week, we've seen U.S. oil and gasoline inventories drop, and that's really what has these prices moving up."
The record gas price in Barrie was in June 2014 when the price at the pumps hit $143.9.
McTeague says higher taxes on gas are also a factor, along with the weak Canadian dollar.
He notes a major storm that's barreling through the Gulf of Mexico could disrupt oil production resulting in new record highs at the pumps.
"It's going to hit refinery row in the United States, Louisiana and parts of Texas, but mostly in Louisiana."
The pain at the pumps isn't just impacting those on the roadways; boaters also feeling it, with prices at marinas around $176.9 per litre.
"There was a fluctuation in last night, I believe, about five to seven cents," said Art Enwright, Monto Reno Marina.
McTeague predicts a two-cent drop overnight Friday but adds he wouldn't be surprised to see another two-cent increase before the weekend's end.
The gas price rollercoaster ride will likely roll into next week.
CTVNews.ca Top Stories
BREAKING Israel attacks Iran, Reuters sources say; drones reported over Isfahan
Israel has attacked Iran, three people familiar with the matter told Reuters, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.