GTA gas prices to reach 3 week low on Father’s Day
Posted June 17, 2022 4:43 pm.
Last Updated June 18, 2022 5:25 pm.
Some good news is on the way for GTA drivers over the Father’s Day weekend — the price to fill up a tank of gas will fall to the lowest in nearly three weeks.
Roger McKnight, Chief Petroleum Analyst with En-Pro, tells CityNews the price will drop four cents on Sunday to 200.9 cents a litre at most GTA stations.
The expected decrease would mean the cheapest gas prices in southern Ontario since it cost 198.9 cents to fill up on May 28.
Toronto gas prices reached a record 215.9 cents a litre on June 11. Since then, the price has fallen 11 cents and would be down 15 cents in just eight days with Sunday’s dip.
The average gas price in Toronto throughout May was $2.069 a litre — a stark comparison to the average in 2021, when the price was $1.307 a litre.
Experts believe rising oil prices will only contribute to more expensive costs at the pumps. Crude oil prices are up by roughly 60 per cent for the year, and much of the jump is due to Russia’s invasion of Ukraine.
As prices continue to rise, all eyes are on the provincial government as prior to the election campaign, Premier Doug Ford promised to temporarily reduce the gas tax by 5.7 cents per litre for six months beginning on July 1.
