Gas Prices in Southern Ontario Will Fall Friday, Saturday : Analyst | Globalnews.ca

Those who need to fill their gas tanks in southern areas Ontario Might want to wait till Saturday to do that, says an industry analyst.

Dan McTeague, president of Canada’s Affordable Energy, said in a tweet on Thursday, gas prices The Greater Toronto Area, Ottawa, Kitchener, Hamilton, London, Barrie, Windsor and Niagara are expected to drop four cents to 174.9 cents a liter on Friday.

What’s more, McTeague said prices are expected to drop another six cents on Saturday to 168.9 cents a liter.

“Wait till Saturday,” he wrote.

Asked what was contributing to this drop in price, McTeague said weak demand in the US and refineries operating at “almost all-time highs” meant that production provided a “temporary boost in supply”. which is meeting the current demand.

McTeague said energy markets are also “taking (Russian President Vladimir) Putin at his word” that he will not cut natural gas exports to Europe.

“Add to all this the concern that inflation will prompt central banks to push for even higher, economically weaker interest rates, and you can see why fuel prices would fall a full 10 cents a liter over the next 30 hours.” Huh.”

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