Ontario gas prices about to take massive drop. This is when that will happen
Ontario gas prices are about to take a huge drop and one expert says it will be "well worth waiting" if drivers can hold off on filling up.
"Finally some good news," President of Canadians for Affordable Energy Dan McTeague told CTV News Toronto on Friday.
McTeague said gas prices will drop 11 cents per litre on Friday morning, partly due to Ontario cutting the provincial gas tax.
"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.
- Download our app to get local alerts to your device
- Get the latest local updates right to your inbox
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."
CTVNews.ca Top Stories
NEW Keeping these exotic pets is 'cruel' and 'dangerous,' Canadian animal advocates say
Canadian pet owners are finding companionship beyond dogs and cats. Tigers, alligators, scorpions and tarantulas are among some of the exotic pets they are keeping in private homes, which pose risks to public safety and animal welfare, advocates say.
NEW Life got in the way of one woman's reunion with her father, but a DNA test gained her a family
Anne Marie Cavner was the closest she'd ever been to meeting her biological father, but then life dealt her a blow. From an unexpected loss to a host of new relationships, a DNA test changed her life, and she doesn't regret a thing.
Doctors ask Liberal government to reconsider capital gains tax change
The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors' retirement savings.
Quebec farmers have been protesting since December. Is anyone listening?
Upset about high interest rates, growing paperwork and heavy regulatory burdens, protesting farmers have become a familiar sight across Quebec since December.
'Catch-and-kill' strategy to be a focus as testimony resumes in Trump hush money case
A veteran tabloid publisher was expected to return to the witness stand Tuesday in Donald Trump's historic hush money trial.
Quebec Health Department reports 28 cases of eye damage linked to solar eclipse
Quebec's Health Department says it has received 28 reports of eye damage related to the April 8 total solar eclipse that passed over southern parts of the province.
Psychologist becomes first person in Peru to die by euthanasia after fighting in court for years
A Peruvian psychologist who suffered from an incurable disease that weakened her muscles and had her confined to her bed for several years, died by euthanasia, her lawyer said Monday, becoming the first person in the country to obtain the right to die with medical assistance.
Diver pinned under water by an alligator figured he had choice. Lose his arm or lose his life
An alligator attacked a diver on April 15 as he surfaced from his dive, nearly out of air. His tank emptied with the gator's jaws crushing the arm he put up in defence.
How quietly promised law changes in the 2024 federal budget could impact your day-to-day life
The 2024 federal budget released last week includes numerous big spending promises that have garnered headlines. But, tucked into the 416-page document are also series of smaller items, such as promising to amend the law regarding infant formula and to force banks to label government rebates, that you may have missed.