Ontario gas prices about to take massive drop. This is when that will happen
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
Ontario doctor alleged to have killed 4 people around same date in 2021: documents
Court documents allege an eastern Ontario doctor killed four people around the same date in 2021.

Freedom Convoy-affiliated group refusing to leave Ottawa church after eviction notice
Members of a Freedom Convoy-affiliated group remain at an Ottawa church one day after the owner of the historic property moved to evict them over unpaid rent.
Retailers sitting on 'mountains' of excess inventory in need of liquidation: expert
Consumer behaviour, a looming recession and the reactions of retailers to pandemic-driven supply chain issues are combining to drive a liquidation renaissance, according to one business advisor and retail futurist who spoke with CTVNews.ca.
Michelle O'Bonsawin named as Canada's first Indigenous Supreme Court justice
Prime Minister Justin Trudeau nominated Ontario judge Michelle O'Bonsawin to the Supreme Court of Canada on Friday. She is the first Indigenous person chosen to sit on Canada's top court and the appointment is being celebrated as filling an important role at the highest level of the country's justice system.
Plane fails to descend as pilots reportedly fell asleep during flight
Two pilots are believed to have fallen asleep and missed their landing during a flight from Sudan to Ethiopia on Monday, according to a report by commercial aviation news site Aviation Herald.
Calgary man convicted in multimillion dollar Ponzi scheme sentenced to 10 years
A Calgary man who bilked his clients out of millions of dollars in a Ponzi scheme has been sentenced to 10 years in prison for what the judge called a deliberate and large-scale fraud.
A child has died of brain-eating amoeba after swimming in a U.S. river
Federal health officials confirmed Friday that a Nebraska child died from a rare infection caused by a brain-eating amoeba after swimming in a river near Omaha.
Transport minister says COVID-19 to blame for airport delays, flight cancellations
Transport Minister Omar Alghabra told the House of Commons transport committee the COVID-19 pandemic and resulting labour shortages are to blame for the significant wait times at Canadian airports, and said the ArriveCAN app is here to stay.
Northern lights expected across Canada this weekend: NOAA
Canadians across the country have a shot at seeing the northern lights this weekend thanks to a series of solar flares and storms over the past few days, according to the National Oceanic and Atmospheric Administration.