Ontario gas prices are on the verge of falling hugely, and one expert says it will be worth the wait if drivers manage to hold up.
“Finally some good news,” Canadians for Affordable Energy President Dan McTeague told CTV News Toronto on Friday.
McTeague said gas prices would fall 11 cents a liter on Friday morning, in part due to a reduction in the provincial gas tax in Ontario.
“Of the 11-cent drop, 6.5 cents is due to a reduction in the gas tax by the provincial government, and 4.5 cents is due to markets,” McTeague said.
He said the average price of gas in Ontario on Friday would be 1.93 cents per liter, the lowest since May 12.
“If that’s not enough for people, now I’m looking to make things worse,” McTeague said.
McTeague said on Saturday that gas prices are likely to fall another six cents a liter.
This would bring gas prices to an average of $ 1,879 cents per liter, the lowest price since April 30.
“Anyone reading this, I tell you, don’t go to a gas station unless you have to,” McTeague said. “You don’t see these big discounts often. It’s worth the wait.”
McTeauge said it would be a “short-term delay” for drivers and that prices were likely to rise above $ 2.10 by mid-July.
“I don’t think it will last,” he said. “So take advantage of that.”
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