Greater Toronto Area gas prices dropping 15 cents on Friday, petroleum analyst says

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    The cost of gas is now a point of pain for most drivers. Alberta's already decided it's temporarily suspending its gas tax - and now some want the rest of Canada to do the same. But some analysts say Canada needs to do more in the long-term.

    By Nick Westoll

    Posted March 9, 2022 5:51 pm.

    Last Updated March 10, 2022 12:39 pm.

    Drivers in the Greater Toronto Area are in store for a brief reprieve from soaring gas prices on Friday.

    Roger McKnight, En-Pro’s chief petroleum analyst, told CityNews there will be an average price drop of 15 cents to $1.759 a litre.

    The relief at the pumps comes as oil prices dropped on Tuesday, and claims from the Organization of the Petroleum Exporting Countries (OPEC), Iraq and the United Arab Emirates they can and will ramp up crude oil production to account for the loss of Russian oil flow.

    RELATED: No relief on gas taxes expected from Ontario government

    McKnight encouraged people to wait until later in the week to fill up, forecasting Friday’s significant price drop.

    Wednesday saw a six-cent increase, bringing the average price to $1.909 a litre. It marked a roughly 30-cent-per-litre increase from prices seen at the beginning of the month.

    Click here for the latest gas prices in the Greater Toronto Area.

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