Analysts and markets are beginning to 'lose hope' that the Strait of Hormuz would reopen soon, says Dan McTeagueThis advertisement has not loaded yet, but your article continues below. Subscribe now to read the latest news in your city and across Canada. After about a week of declining gas prices at the pumps, Toronto-area drivers will have to again pay more to fuel up, according to a leading gas expert. Article contentSpeaking to CP24 Breakfast, Canadians for Affordable Energy president Dan McTeague said the price of regular gas in the GTA would go up by six cents a litre on Wednesday, hitting 168.9 cents, while diesel will also go up 12 cents, pushing prices to 220.9 cents per litre. “There is no doubt that this has been the wildest ride in energy prices we’ve seen,” McTeague said, adding the situation is “worse than 2008,” referring to the year energy prices peaked following periods of extreme fluctuations in the early aughts due to the U.S. invasion of Iraq.