GTA gas prices hit yearly low; expected to drop again
Posted December 7, 2022 9:37 am.
Last Updated December 8, 2022 9:20 am.
Gas prices in Toronto and the GTA fell to the lowest level of the year on Thursday and are headed for another drop before the weekend.
The average price for a litre of regular at most GTA stations dropped two cents at midnight to $1.389/litre. Chief Petroleum Analyst at EnPro International, Roger McKnight, says the price will fall another three cents on Friday to $1.359/litre.
It marks the first time this year that gas has dropped below the $1.40/litre mark in southern Ontario, reaching the lowest price since December of last year.
Friday GTA gas might be the near-term low…
Pump prices expected to fall 3 cents for Friday to $1.359 per litre.
Global oil prices are up sharply this morning with China signaling an easing of Covid restrictions.— Mike Eppel (@eppman) December 8, 2022
The cost of gas has been trending down in recent weeks and is in correlation to the falling price of oil.
Global oil prices were up sharply Thursday morning after reaching a yearly low on Wednesday, meaning drivers may want to take advantage of the relative low prices in the coming days.
The latest gas prices for the GTA are updated daily here.
Past month gas prices 2022
