Drivers across Ontario are set to catch a break as gas prices are expected to drop by as much as 10 cents per litre in the coming days. The decrease comes as stations transition from more expensive summer-blend gasoline to its cheaper winter formulation, according to Dan McTeague, president of Canadians for Affordable Energy.
McTeague explained that summer gasoline is engineered to resist evaporation in warmer temperatures, making it costlier to produce. “Once the summer period is over, prices make a quick U-turn and reverse,” he said. “By Thursday, we should see a net decrease of about nine cents, maybe even 10 cents a litre.”
In the Greater Toronto Area, the price of regular gasoline is expected to fall from 143.9 cents per litre on Wednesday morning to around 133.9 or even 134.9 cents by Thursday. Competitive stations could push prices even lower — potentially dropping to $1.27 per litre later in the day.
“This is a wholesale price drop, so it should be reflected at the pumps,” McTeague added, saying he wouldn’t be filling up until after the drop takes effect.