Gas prices will drop to a seven-month low in the GTA tonight. Here is what you can expect to pay at the pump.

If you are planning on gassing up ahead of the Thanksgiving long weekend, you might want to wait until tomorrow.

Dan McTeague, who is the President of Canadians for Affordable Energy, tells CP24 that gas prices across the GTA are set to drop by approximately six cents a litre at midnight.

That will bring prices down to 149.9 cents per litre. The last time that prices were that low was on April 1.

McTeague says that the decline in price is the result of “nervous energy markets” in the United States, where traders are worried about the possibility of additional interest rate hikes that could suppress demand in the coming months.

The latest drop in price comes less than a month after Toronto gas prices matched a yearly high on Sept. 15 when they hit 173.9 cents per litre.

In 2022 gas prices surged due to a number of geopolitical factors and at one point hit a record 214.9 cents per litre in the GTA.