Gas prices dropped seven cents overnight on Thursday to $151.9 cents per litre, the lowest since mid-January.
Gas prices in the southern Ontario are expected to drop another two cents tomorrow ahead of the long weekend.
On Friday, prices at the pumps are slated to fall to $149.9 cents per litre across most of southern Ontario, according to President of Canadians for Affordable Energy Dan McTeague. “If markets continue being as pessimistic, say almost as dysfunctional, as they are now we could see $1.46, $1.47 for Sunday,” he told CP24 Thursday morning.“Wow, 66 cents down since you and I spoke back on. So that's a $40 savings for consumers when they fill up 60, 70 litres so I'm a happy camper this morning,” McTeague said.
A man fills his vehicle with gas during the COVID-19 pandemic in Toronto on Friday, October 8, 2021. THE CANADIAN PRESS/Nathan Denette However, McTeague says the downward trend in prices likely won’t last long and will rise again in the coming weeks due to a variety of factors, including oil and gas supply concerns and rising interest rates.“... the markets are completely in a bit of a funk. I don't think they know where to go. So they've decided to shut their positions.
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