You may not have anywhere to go, but now is a good time to get gas. On Wednesday, gas prices in Ottawa were as low as 58 cents per litre. This is the lowest fuel costs have been since 2003, which was 17 years ago!
If your tank is running low and you need to make essential trips, or if you’re a frontline worker who continues to commute, now is the time to fill up.
As of Wednesday morning, you can find fuel in the country’s capital for as little as 58.9 cents per litre in select Costco locations, which is approximately half the price you would have paid in March 2019.
While costs were still pretty budget-friendly on Tuesday afternoon, averaging around 71 cents per litre, a huge drop came on Wednesday morning, reducing prices by roughly 13 cents per litre.
If you’re struggling to remember a time when gas was this affordable in Ottawa, it's because it hasn’t dropped as low since December 2003. Almost two decades ago!
According to Dan McTeague, former MP and president of Canadians for Affordable Energy, this downward trend is due in part to the COVID-19 outbreak.
Going down to average prices prices not seen since December 2003 😳 https://t.co/d2ZR0OeSzJ— Dan McTeague (@Dan McTeague)1585003348.0
"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," he previously told CTV News.
Richmond Rd at 8 AM... empty, and if you can’t read the gas prices? 62.9c a litre #ottawa https://t.co/VFbKDsuIL4— The Name Is Gabe (@The Name Is Gabe)1585138817.0
Similar trends have been seen across the country since the beginning of March, with prices fluctuating but generally staying much lower than usual.
McTeague, who is also known as “the Gas Wizard,” told Narcity earlier this month that while lower prices are great, we shouldn’t get too excited.
"Less economic activity and a weaker currency will actually inflate prices for just about everything else since we price all commodities in Canada in U.S. terms," he explained.
That said, if you do need to fill up your tank anyway, you may as well do it while the prices are at rock-bottom.
You can find the cheapest Ottawa gas station near you by clicking here.
*This article's cover image is for illustrative purposes only.