Ontario-wide gas prices expected to fall 8 cents by Thursday

Drivers across the state are advised to hold off filling their gas tanks until Thursday as fuel prices are expected to drop 8 cents over the next two days.

Ontario’s average gasoline price per liter is expected to drop 4 cents to 172.9 cents per liter on Thursday, before falling another 4 cents to 168.9 cents per liter, according to industry analysts and Affordable. Dan McTeigue, Canadian president of Energy, said.

This comes after fuel prices in the state hit a three-month high in October.

McTeigue told CP24 late last month that gas prices will continue to rise and drivers could soon reach prices above $2 a liter.

He said the state government’s adjusted gas tax rate, which has been cut by about 6 cents per liter, is due to return to its normal rate in January, which will further increase the price of fuel.

So far, the Ford government has not made clear whether it will consider extending the time-limited measures.

McTeague said inflation, along with specific policies aimed at combating carbon pollution, including the federal government’s upcoming “clean fuel standard” tax, will make energy affordability even more difficult.