Gas prices in the Toronto area are expected to drop even further on Saturday, to the lowest price seen since late February, one industry analyst says.
Dan McTeague, president of Canadians for Affordable Energy, told Global News gas prices in Toronto and the Greater Toronto Area are expected to drop six cents on Friday to 167.9 cents per litre.
Get daily National news
Get daily Canada news delivered to your inbox so you'll never miss the day's top stories.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
McTeague said prices will fall another eight cents on Saturday, to 159.9 cents per litre, marking the lowest price since Feb. 27.
- ‘I feel so bad and so trapped’: Rogers customer falls victim to sophisticated delivery scam
- IBC estimates $230M in insured damage claimed from Edmonton storms
- Calgary area ‘very uniquely situated’ for study of hailstorms, says researcher
- Close to 800,000 have applied for $100 rebate, payments coming: Alberta’s Smith
“Lemmings are taking the view there’s plenty of oil and gasoline out there and that demand is below the COVID lockdown period,” McTeague said.
He said the U.S. data that suggested this is “now being attacked, but the damage is done.”
“Watch for prices to snap back,” he said.
Comments
Want to discuss? Please read our Commenting Policy first.