Ontario Gas Prices Are Set To Drop On Thursday Before Shooting Back Up Again

There is going to be a small window of opportunity to save on Ontario's gas prices this week.

Dan McTeague, president of Canadians for Affordable Energy and gas analyst, tweeted that prices are likely going to fall two cents a litre this Thursday, December 2, in the GTA, Ottawa, Hamilton, Barrie, London, Kitchener, Niagara, Windsor, and most other places across Ontario.

According to Gas Wizard, gas prices in Toronto, Barrie, Brampton, Hamilton, Kingston, London, Niagara, Waterloo and Windsor are all expected to be 132.9 cents per litre on Thursday. Ottawa will likely be at 131.9 cents a litre.

Peterborough could see a four-cent drop on Thursday with prices at the pumps set to be around 130.9 cents per litre.

Meanwhile Sudbury and Thunder Bay likely won't be seeing any changes to the cost of gas (which is unfortunate since they are also boasting the highest prices across the province.) Gas Wizard predicts gas prices will be 141.9 a litre in Sudbury and 144.9 cents per lire in Thunder Bay.

This price drop is going to be short-lived so you may want to act fast if you're in need of filling up your tanks. McTeague predicts that prices will go back up by at least two cents come Friday.

Last week gas prices all across the country crashed with some cities across Ontario seeing an 11-cent drop at gas stations. In an interview with CTV News, McTeague said the plummeting gas prices were largely due to the price of oil falling by 13% worldwide following the news of the latest Omicron variant. Since then, gas prices have wavered in the province, but have started to trend back upwards.

This article's cover image was used for illustrative purposes only.