Ontario Gas Prices Are Set To Drop Even More Tomorrow & Keep Your Long Weekend Plans Rolling

Ontario's gas tax cut finally kicks in!

Ottawa News Reporter
A gas station in Toronto.

A gas station in Toronto.

Some good news, drivers! Ontario gas prices are expected to drop on Saturday, so you might just be able to breathe a sigh of relief at the pumps this Canada Day long weekend.

After gas hovered above $2 per litre at the start of summer, prices in many Ontario cities are expected to finally dip below 190 cents. Gas analyst Dan McTeague shared Thursday that fuel is expected to drop another 6 cents on Saturday after already having dropped 11 cents in many places throughout the province.

That could mean that you end up paying around 187.9 per litre on Saturday if you live in southern Ontario, including in the Greater Toronto Area, Hamilton, Niagara and Ottawa.

In Barrie and London, Gas Wizard says you could see gas going for a cent cheaper at 186.9 cents a litre, with Peterborough being slightly lower at 186.6 cents. But if you live in Kingston, prices may stay a bit higher at around 193.9 per litre.

Estimates for Sudbury are high too, at about 199.9 cents per litre. And if you're in Thunder Bay this weekend you may see prices linger over the dreaded $2 mark, at 203.9 cents a litre. Ouch.

McTeague noted on Twitter that Canada is feeling market changes experienced first in the U.S. And on top of those changes, he said the Ontario government's 5.7-cent-per-litre gas tax cut, which comes into effect today, is also cooling down prices.

Premier Doug Ford introduced legislation in April to lower the gas and fuel taxes for the second half of 2022 in an effort to relieve record-breaking high prices.

The tax cut of nearly 40% brings the gas tax from 14.7 cents per litre down to 9 cents per litre until the end of the year.

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