Gas prices to take major drop in Ontario this weekend
Gas prices in Ontario are expected to take the biggest single-day drop in more than a decade this weekend.
According to Dan McTeague, president of Canadians for Affordable Energy, gas prices will drop 11 cents across Ontario on Sunday.
On average, gas prices will drop from 145.9 cents per litre to 134.9 cents per litre, he said.
"This has everything to do with what looks like an incredible overreaction to news on the variants in South Africa," McTeauge told CTV News Toronto.
Oil prices suffered one of the largest ever one-day plunges on Friday, crashing more than 11 per cent on Black Friday as the new strain sparked fears that renewed lockdowns could hurt global demand.
McTeague said the 11-cent drop will be the biggest single-day decrease in Ontario since 2009. He said that while gas prices fell sharply during the first wave of COVID-19, it never reached 11 cents in a single day.
McTeague said much of Canada will also see the same drop in prices on Sunday as well.
"Quebec, Ontario, Manitoba, Saskatchewan, Alberta, B.C. interior and Vancouver will see prices drop on an average of 11 cents a litre as well," McTeauge said.
Gas prices have been rising in recent weeks in Ontario and McTeague said that trend will eventually continue.
"This is a one-off deal," McTeague said.
Click here more information on current gas prices in Ontario.
CTVNews.ca Top Stories
Several flight attendants from Pakistan have gone missing after landing in Canada
Multiple flight attendants from Pakistan International Airlines have abandoned their jobs and are believed to have sought asylum in Canada in the past year and a half, a spokesperson for the government-owned airline says.
Cargo ship had engine maintenance in port before Baltimore bridge collapse, officials say
The cargo ship that lost power and crashed into a bridge in Baltimore underwent 'routine engine maintenance' in port beforehand, the U.S. Coast Guard said Wednesday.
A Nigerian woman reviewed some tomato puree online. Now she faces jail
A Nigerian woman who wrote an online review of a can of tomato puree is facing imprisonment after its manufacturer accused her of making a “malicious allegation” that damaged its business.
Far North police 'dispatch' polar bear stalking schoolyard
Police and local hunters in an Ontario Far North First Nation community have “dispatched” a polar that was showing abnormal behaviour and treating the area as a hunting ground.
Donald Trump assails judge and his daughter after gag order in N.Y. hush-money criminal case
Donald Trump lashed out Wednesday at the New York judge who put him under a gag order that bars him from commenting publicly about witnesses, prosecutors, court staff and jurors in his upcoming hush-money criminal trial.
Families shocked after Niagara Falls hotel cancels bookings made year in advance of solar eclipse
After having the foresight to book their Niagara Falls hotel rooms more than a year in advance, several families planning to take in the solar eclipse next month were shocked to find out their reservations had been cancelled.
B.C. rescuers face 'high likelihood' of failure to reunite orphaned orca with pod
The race to reunite an orphaned orca calf that’s stuck in a shallow lagoon with a neighbouring pod has entered its fifth day, and a marine scientist says the clock is ticking.
Video shows police interrupting auto theft in progress outside Toronto home
New video footage obtained by CP24 shows the attempted theft of a vehicle in a North York driveway earlier this month that was ultimately interrupted by police.
Majority of Canadians believe in life after death: Angus Reid survey
A new survey from the Angus Reid Institute has found that a majority of Canadians believe in some form of life after death, a proportion that has held steady for decades.