If you're looking to fill up your gas tank, you might want to wait until Saturday. Prices at the pump are going to drop quite dramatically, and these rates will be the lowest we've seen all year. Ontario gas prices will drop all the way down to 99 cents a litre at most pumps, gas price analyst Dan McTeague predicts.Narcity reached out to Dan McTeague to get a clearer understanding of where gas prices will be sitting over the next few days. "Gas prices vary through the day so that this morning, for instance, they stand at 107.9 cents a litre but by this evening many stations will be closer to 101.9," he wrote in an email."However tomorrow with my predicted drop of 2 cents wholesale pushing prices on Saturday morning to 105.9 - look for many gas bars to be offering fuel by afternoon evening then for 99.9 cents a litre.""Sunday - look to another 1 to 2 cent a litre net drop so that Sunday morning will start at 103.9 and by evening drop to 97.9 at many GTA stations. Those prices will hold until at least next Wednesday," he informed Narcity.Gas prices have already dropped about 3 cents in Ottawa, CTV News reports.
⛽️ Price ⚠️: After falling 3 cents Friday #gasprices to FALL 2 cents a litre Saturday (net) for #Toronto #GTA… https://t.co/w8F8QzVVLt— Dan McTeague (@Dan McTeague)1582860793.0
However, it's not just Ottawa that will be seeing this drop. The GTA, Hamilton, London, Barrie, Kitchener-Waterloo, Windsor, Niagara, Kingston and Guelph will be seeing some much cheaper gas this weekend and into next week. In fact, most of Ontario will be able to see the difference, Dan McTeague predicts.
While we won't be seeing gas that cheap this weekend, it will definitely be close.
In January, gas prices in Ontario fell to the lowest we've seen since last spring. The numbers this weekend are going to be even lower, so get ready for an ultra-cheap tank full of gas.
McTeague also informed CTV News that the coronavirus scare could be affecting the market value of oil as well as all sorts of other commodities.
“It looks like more bad news globally with respects to the spread of the coronavirus is leading to markets really shedding their value. That’s not just oil and gasoline but all commodities,” McTeague told CTV News.