Ontario gas prices about to take massive drop. Here's the best time to fill up
Ontario gas prices are set to drop 10 cents per litre on Friday offering motorists big relief at the pumps ahead of the long weekend.
Average gas prices hit $209.9 per litre on Wednesday in southern Ontario, marking a new record high and a whopping 12-cent rise since last Friday.
However, prices dropped three cents to 206.9 per litre as of Thursday morning, and will fall another 10 cents to 196.9 per litre by Friday.
President of Canadians for Affordable Energy Dan McTeague said the drop in prices is being driven by the unease of global markets over a potential recession.
Prices at the pumps have been elevated since late February due to fuel supply shortages amid Russia's invasion of Ukraine and the international sanctions that have been imposed as a result of the war.
Natural Resources Canada said the average price for regular gasoline in Canada hit $2.06 per litre on Monday, with the most expensive price in Vancouver at $2.34 a litre.
On Wednesday, Statistics Canada reported that the annual inflation rate rose 6.8 per cent year-over year in April. The national agency added that Canadian drivers paid 36.3 per cent more for gas in April compared to a year ago.
-With files from The Canadian Press
CTVNews.ca Top Stories
BREAKING Federal employees will be required to spend 3 days a week in the office
Starting in September, public servants in the core public administration will be required to work in the office a minimum of three days a week. The Treasury Board Secretariat says executives will need to be in the office four days per week.
Concerns about plexiglass prompt inspections at some Loblaws locations in Ottawa
Inspections are underway at more than one Loblaws location in Ottawa after complaints were filed about tall plexiglass barriers.
OPP officer said 'someone's going to get hurt' before wrong-way Hwy. 401 crash
As multiple Durham police cruisers were chasing a robbery suspect on the wrong side of Highway 401 Monday night, an Ontario Provincial Police officer shared his concerns, telling a dispatcher, "Someone's going to get hurt."
Canada's most wanted fugitive arrested in P.E.I. in connection with Toronto homicide
A suspect in a fatal shooting in Toronto’s east end last summer has been arrested in Charlottetown, just one week after he topped a list of Canada’s most wanted fugitives.
Poilievre returns to House unrepentant for calling Trudeau 'wacko,' Speaker not resigning
An unrepentant Pierre Poilievre returned to the House of Commons on Wednesday to pepper the prime minister about his drug decriminalization policies after being booted the day prior for refusing to take back calling Justin Trudeau 'wacko' over his approach to the issue.
Five human skeletons, missing hands and feet, found outside house of Nazi leader Hermann Göring
Archeologists have unearthed the skeletons of five people, missing their hands and feet, at a former Nazi military base in Poland.
Toddler of Phoenix first responder dies after bounce house goes airborne
A two-year-old child died after a strong gust of wind sent the bounce house he was in airborne and into a neighbouring lot in central Arizona, the Pinal County Sheriff's Office said.
Plane overshoots runway at airport in St. John's, N.L., no injuries reported
Investigators from the Transportation Safety Board of Canada are headed to St. John's, N.L., after a plane overshot a runway at the city's airport this afternoon.
A teen was found buried in a basement in New York. An engraved ring helped police learn her identity two decades later
For more than two decades, the unknown victim was nicknamed "Midtown Jane Doe" because she was found in the Hell's Kitchen neighbourhood of New York City. But this week, investigators finally revealed her identity.