"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."
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.
Massive explosions and fires hit a military depot in Russia-annexed Crimea on Tuesday, forcing the evacuation of more than 3,000 people, the second time in recent days that the Ukraine war's focus has turned to the peninsula.
One-quarter of front line employees surveyed at Canada's border agency said they had directly witnessed a colleague discriminate against a traveller in the previous two years.
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.
Two of the people behind an accusation of political interference in the investigation of the April 2020 mass shooting in Nova Scotia will be before a House of Commons committee Tuesday.
Some energy experts warn a deal to sell Canadian hydrogen to Germany will serve as only a small, far-off and expensive part of the solution to Europe's energy crisis.
While many Canadians don’t support moving away from the metric system of measurement, many continue to use imperial measurements in their daily lives, according to a recent online poll.
The fatal film-set shooting of a cinematographer by actor Alec Baldwin last year was an accident, according to a determination made by New Mexico's Office of the Medical Investigator following the completion of an autopsy and a review of law enforcement reports. The medical investigator's report was made public Monday by the Santa Fe County Sheriff's Office along with numerous reports from the FBI on the revolver and ammunition that were collected following the shooting.
Quebec health authorities are launching another COVID-19 booster vaccination campaign on Monday, targeting people living in CHSLDs and private seniors' residences (RPAs). The recommended interval between baseline vaccination and a first booster dose is three months or more, while the suggested interval between each subsequent booster dose is five months or more.
Unionized bus drivers say children may have difficulty getting to school once the academic year starts if the Quebec government continues to refuse to increase funding.
With one week to go before the start of the new school year, the CSQ is concerned that some CEGEPs will be unable to offer certain services and even some courses due to a lack of staff.
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.
Lisa LaFlamme is leaving CTV News. The network announced today that the Chief Anchor and Senior Editor is departing after more than 30 years with the company.
A 72-year-old downtown Sudbury businessman has entered the pool of candidates running for mayor in the City of Greater Sudbury, bringing the number of contenders to nine.
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 proposed correctional facility in Kemptville, Ont. has some residents concerned about how it might change the look of their small town and they are taking steps to prevent it from happening.
One-quarter of front line employees surveyed at Canada's border agency said they had directly witnessed a colleague discriminate against a traveller in the previous two years.
Tuesday will kick off with sunshine across the region but Environment Canada is calling for the possibility of showers or even a potential thunderstorm in the afternoon.
Trans Power Utility has closed Minet's Point Road to install a new road crossing to support the Regional Express Rail Expansion planned for the Barrie GO corridor.
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.
Two of the people behind an accusation of political interference in the investigation of the April 2020 mass shooting in Nova Scotia will be before a House of Commons committee Tuesday.
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.
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 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.
City council approved a $15.2 million investment to fund a joint dispatch centre in Chinatown, with some hoping the province would help pick up the tab.
