This weekend, gas prices in Ontario are anticipated to decrease by the most in more than a decade.
Gas prices in Ontario will decrease 11 cents on Sunday, according to Dan McTeague, president of Canadians for Affordable Energy.
According to him, gas prices would fall on average from 145.9 cents per litre to 134.9 cents per litre.
“This has everything to do with what appears to be a massive response in South Africa to news of the variations,” McTeauge told CTV News Toronto.
Oil prices fell by more than 11% on Black Friday, one of the greatest one-day drops in history, as the new strain triggered worries of renewed lockdowns hurting global demand.
The 11-cent cut, according to McTeague, will be the largest single-day drop in Ontario since 2009. During the first wave of COVID-19, he added, gas prices decreased significantly, but never hit 11 cents in a single day.
According to McTeague, the similar price reduction will be seen across most of Canada on Sunday.
“Prices will drop on average 11 cents a litre in Quebec, Ontario, Manitoba, Saskatchewan, Alberta, B.C. interior, and Vancouver,” McTeauge added.
Gas prices have been climbing in Ontario in recent weeks, and McTeague believes the trend will continue.
McTeague stated, “This is a one-time agreement.”
Below are the current gas prices in Ontario.