Toronto Drivers Advised to Wait Until Thursday for Lower Gas Prices
Attention Toronto drivers: this is the best day this week to fill up your gas tanks
Image: Ctv News
Toronto drivers are advised to wait until Thursday to fill their gas tanks, as prices are expected to drop by 10 cents per litre to 173.9. This decrease is attributed to potential positive developments in U.S.-Iran relations affecting oil supply.
- 01Gas prices in Toronto are predicted to decrease to 173.9 cents per litre on Thursday.
- 02Diesel prices are expected to fall to 195.9 cents per litre, a seven-cent drop.
- 03The last recorded price at this level was on April 24.
- 04The anticipated price drop is linked to reports of a potential U.S.-Iran deal that could impact oil supply.
- 05The information comes from Dan McTeague, president of Canadians for Affordable Energy.
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Drivers in Toronto should hold off on filling their gas tanks until Thursday, according to industry analyst Dan McTeague. He forecasts that gas prices will decrease by 10 cents per litre to 173.9 cents, marking the lowest price since April 24. Additionally, diesel prices are expected to drop to 195.9 cents, a seven-cent reduction. This anticipated decline is attributed to the commodity futures market reacting to reports suggesting that the United States may be nearing a deal with Iran, which could potentially reopen the Strait of Hormuz, a crucial passage for global oil supply. McTeague's insights highlight the impact of geopolitical developments on fuel prices.
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The drop in gas prices will provide financial relief to drivers in Toronto and southern Ontario.
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