Gas Nears Record

Another increase at the gas pumps. The cheapest grade of gasoline is selling for $1.24.7-a-litre at most locations in and around Toronto. That's up 2.5 cents from Thursday night. 

Motorists are now facing the highest prices since the days following hurricane Katrina almost three years ago. 

Listen to Ryan Bird's report

Liberal M.P. and unofficial gas price watchdog, Dan McTeague, blames market speculators and the fact the Canadian dollar lost about one American cent on Thursday

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