Gas prices to drop 3.6 cents at midnight
Posted April 5, 2012 9:40 am.
This article is more than 5 years old.
Long weekend drivers who didn’t fill up before Wednesday’s spike in gas prices will get a reprieve — One analyst predicts the price will fall 3.6 cents on Friday.
En-Pro’s Roger McKnight says the cost will go down at midnight, which means most GTA stations will be selling their fuel for 136.5 cents a litre.
The drop almost reverses Wednesday’s rise of as much as 4.5 cents to an average of $1.38 for regular, which triggered long lineups the night before at stations across Toronto.
McKnight couldn’t explain the expected drop, but said Esso is leading the fluctuation.
This year, the seasonal bump has come earlier than usual.
Historically, gasoline prices climb leading up to the Victoria Day weekend in May, as fuel companies anticipate the annual surge in demand as more Canadians take road trips.
A changeover at North American refineries, which make different grades of fuel for the warm and cold seasons, also contributes to the hike.
With files from The Canadian Press
