5 Things To Know Today
GTA gas prices have dropped below $1/litre for the first time in 4 years. GO fare hike expected for 2014. Planned shutdowns of nuclear plants could mean higher electricity prices for Ontarians. Tow truck drivers to descend on Queens Park today to protest. Increased number of overdoses have Durham Police on high-alert.
GTA GAS PRICE HAVE DROPPED BELOW $1/L FOR THE FIRST TIME IN 4 YEARS
We’ll see today if the stock markets will continue their sell-offs in the wake of the dramatic drop in oil prices. The TSX yesterday had its biggest single day loss in 20 months and signs are pointing to another drop today. The pressure on the markets is being caused by the continued slide in the price of oil, now in the $63 range. That’s down 40% since the summer and off 56% from its peak high of $144 per barrel. One positive connected to the oil slump is that gas is a lot cheaper. Already averaging $1.06 per litre in the GTA, with some stations sitting under the $1 threshold, we can likely expect another dip of 2-cents tomorrow. It’s been more than 4-years since gas dropped below $1 per litre in the GTA.
GO FARE HIKE EXPECTED FOR 2015
Metrolinx has proposed a 5% fare hike to all transit services by February of 2015. According to the proposal the hike will be based on a tier basis. With 10, 30 or 40 cent increases based on different fare levels. The new proposal wouldn’t affect discounts to Presto card holders or students and seniors. The hike would generate an estimated 23.5 million dollars in revenue.
PLANNED SHUTDOWNS OF NUCLEAR PLANTS COULD MEAN HIGHER ELECTRICITY PRICES
We’re also looking at paying more next year for electricity. The planned shutdowns of the Darlington and Bruce Nuclear power plants during normally high peak times could mean that Ontario won’t have enough electricity to meet demand next summer during the 2015 Pan Am Games. That would force the province to import expensive electricity from the US.
TOW TRUCK DRIVERS TO DESCEND ON QUEENS PARK TODAY
Over a thousand tow truck drivers are expected to snarl traffic around Queens Park this morning. They’ll be protesting the province’s new auto insurance law that among other things prevents drivers from working more than 13 hours a day or 60 hours a week. Tow truck drivers say it prevents them from doing their job and could result in prices being increased. The drivers will start from 3 locations around the GTA at 8 this morning eventually ending up at Queens Park. The 3 locations are Steeles Avenue and Highway 404, Bovaird Drive and Highway 410 in Brampton, and Mavis Road and Highway 401 in Mississauga. A similar protest in Brampton on Monday slowed traffic and caused Peel Police to to issue a warning asking drivers to avoid the area.
INCREASED OVERDOSES HAVE DURHAM POLICE ON HIGH-ALERT
Durham Police are investigating after six suspected drug overdoses were discovered in the region in the past month. Authorities believe there may be a link between the deals and a bad ‘batch’ of heroin originating from Toronto. In the city last month, there were a number of overdoses and one reported dead due to the spiked narcotic. The coroner’s office is now investigating trying to determine what exact mixture caused the deadly results.