"Of the 11-cent drop, 6.5 cents is because of the provincial government dropping in the gas tax, and 4.5 cents is because of the markets," McTeague said.
He said the average gas price in Ontario on Friday will be $1.93 cents per litre, which is the lowest it has been since May 12.
"If that isn’t enough for people, I’m now looking at things dropping even further," McTeague said.
McTeague said on Saturday, gas prices will likely drop another six cents per litre.
That would bring gas prices to $1.879 cents per litre on average, marking the lowest price since April 30.
"Anyone who is reading this, I am telling you, don’t visit a gas station if you don’t have to," McTeague said. "You don’t see these big decreases often. It’s well worth waiting."
McTeauge said this will be a "short-term reprieve" for motorists, and that prices will likely rise back above $2.10 by mid-July.
"I don't think this is going to hold," he said. "So take advantage of it."
The House of Commons Public Safety and National Security Committee is set to meet today to discuss allegations of political interference in the 2020 mass shooting in Nova Scotia.
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
The next time the Bank of Canada raises interest rates on the scheduled date of September 7, 2022, it could potentially trigger a recession. Although there may be a chance that we don’t enter into a recession and the BoC is still hoping for a soft landing, it’s best to be prepared. Contributor Christopher Liew explains how.
Explosions and fires ripped through an ammunition depot in Russia-annexed Crimea on Tuesday in the second suspected Ukrainian attack on the peninsula in just over a week, forcing the evacuation of more than 3,000 people.
A Vancouver couple was in awe and a bit scared during an hours-long encounter with a whale on B.C.'s Central Coast, much of which they captured on video.
Minister of Families, Children and Social Development of Canada Karina Gould is discouraging people from making fake travel plans just to skip the line of those waiting for passports.
As heat waves become more common and extreme due to the effects of climate change, the data centres that provide the backbone for the online services the public relies on are at risk of overheating.
Quebec health officials say there is no plan to impose obligatory public health measures come this fall as the province launches its most recent COVID-19 booster vaccination campaign, targeting people living in CHSLDs and private seniors' residences.
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
A Hearst, Ont. couple in their 60s has been charged with drug trafficking following a raid on a West Street home last week, Ontario Provincial Police say.
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
An Ottawa family has adopted two beagles that were among thousands freed from a facility in Virginia that was breeding them so they could be sold for drug experiments.
A Windsor man who hit a child with his vehicle, left the scene, and attempted to cover up his involvement in the incident was sentenced to a 12 month conditional sentence of house arrest in Provincial Court Tuesday morning.
A former Supreme Court of Canada judge working with the inquiry into the 2020 Nova Scotia mass shooting says he's worried that the federal Justice Department has been discouraging witnesses from being forthcoming with relevant evidence.
The Saint John Police Force says skeletal remains found in a remote area of the city’s east end Friday belong to 32-year-old Kyle Richard Leblanc, who was reported missing in December of 2020.
At about noon, Colchester County District RCMP responded to a report of a man exposing himself after approaching two children on a trail behind an elementary school on Salmon River Road.
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
Southern Manitoba municipalities are gearing up for fall elections, but in areas where the current mayor or reeve is not running, some communities could be short on candidates.
A just-released report from British Columbia's coroners shows that more people have died from illicit drug overdose in the first six months of 2022 than in any other year in the province.
A two-minute video posted to TikTok that shows a man berating two women for not speaking English at a Richmond, B.C., SkyTrain station is making the rounds on social media.
A Vancouver couple was in awe and a bit scared during an hours-long encounter with a whale on B.C.'s Central Coast, much of which they captured on video.
Canada's year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed.
