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
'I have the will to live': N.B. woman needs double lung transplant
A New Brunswick woman suffering from sarcoidosis, a disease that limits your lung capacity, is in need of a double lung transplant.
Suter scores late goal, clinches series for Canucks
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
A Chinese driver is praised for helping reduce casualties in a highway collapse that killed 48
A Chinese truck driver was praised in local media Saturday for parking his vehicle across a highway and preventing more cars from tumbling down a slope after a section of the road in the country's mountainous south collapsed and killed at least 48 people.
Video shows suspect setting Toronto-area barbershop on fire
Video of a suspect lighting a Richmond Hill barbershop on fire earlier this week has been released by police.
Police officer hit by driver of fleeing vehicle in Toronto
York Regional Police say they are continuing to search for a suspect in an auto theft investigation who was captured on video running over a police officer in Toronto last month.
The kids from 'Mrs. Doubtfire are all SUPER grown up now, and we're not OK
The adorable trio of child actors from the 1993 classic comedy 'Mrs. Doubtfire,' which starred the late and great Robin Williams, are all grown up and looking back on their seminal time together.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Premier Legault reiterates that McGill pro-Palestinian camp must be dismantled
Quebec Premier François Legault reiterated that the pro-Palestinian encampment at McGill University must be dismantled while police remain 'on the lookout for new developments.'
Hulk Hogan, hurricanes and a blockbuster recording: A week in review of the Trump hush money trial
Crucial witnesses took the stand in the second week of testimony in Donald Trump's hush money trial, including a California lawyer who negotiated deals at the center of the case and a longtime adviser to the former president.