Ottawa motorists will find some relief at the gas pumps over the Canada Day long weekend.
President of Canadians for Affordable Energy Dan McTeague predicts gas prices will fall 17 cents over the next two days, following Ontario government’s decision to cut the provincial gas tax and energy markets being “in a bit of a retreat.”
Gas prices dropped 11 cents per litre at Ottawa gas stations on Friday morning. Several stations were selling gas in Ottawa for $1.92 or $1.93 a litre.
“Of the 11-cent drop, 6.5 cents is because of the provincial government dropping in the gas tax, and 4.5 cents is because of the markets,” McTeague told CTV News Toronto.
McTeague expects gas prices to drop another six cents per litre on Saturday, bringing gas prices to 187.9 cents a litre.
On Friday, the Ontario government cut the provincial gas tax on fuel.
“It comes at a time where energy markets are really in a bit of a retreat right now,” McTeague said.
Gas prices hit a record high of $2.159 a litre in Ottawa on June 11.
According to ottawagasprices.com, the average price of gas in Ottawa was $1.25 a litre on July 1, 2021 and approximately $0.92 a litre on Canada Day 2020.
McTeague predicts gas prices will rise again on Sunday.
With files from CTV News Toronto and CP24
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