Ontario Gas Prices Set To Drop Tomorrow & Drivers Will Want To Hold Off On Fuelling Up Today

Put the pump down! After a wave of increases, Ontario gas prices are set to drop on Saturday, allowing drivers a chance to collect some savings over the weekend.

According to gas analyst Dan McTeague, stations across the province will record a 3-cent decrease on December 17, which he said would bring prices down to 138.9 cents per litre for cities such as Toronto, Ottawa, Kitchener and Windsor.

However, McTeague had also warned that gas would increase by 4 cents on Friday, an estimation that the latest data by the Canadian Automobile Association (CAA) confirms didn't happen.

CAA has Toronto's average gas station offering 138.1 cents per litre, which, if predictions hold, means the city could be sitting at a low of 135.1 cents per litre at the start of the weekend.

And Peterborough, a city that often records the province's cheapest gas, is sitting at 127.4 cents per litre on Friday. So, its residents will be in for quite the steal at the pumps if the drop-off actually happens.

As for a reason behind the upcoming decrease? McTeague said on Twitter that central bankers are "deliberately attempting" to crash economies through "rate hikes."

The analyst had previously warned Narcity that this week's increase would mark the start of a "small recovery upwards."

It is unclear at the moment whether Friday's stall bodes well or ill for this weekend's price dip.

Drivers will want to keep up-to-date with the latest gas prices info to ensure they have the right price for their area, which they can do here.

Fingers crossed that motorists catch a much-needed break.