Pearson gold heist suspect arrested after flying into Toronto from India
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Motorists may want to wait until Sunday to fill up their tanks, as one analyst expects gas prices to fall 10 to 11 cents in most of Canada.
Gas analyst Dan McTeague, who is the president of Canadians for Affordable Energy, says prices at the pump will drop 11 cents per litre on Sunday in Ontario and Quebec. In Manitoba, Saskatchewan, Alberta and B.C., gas prices will fall 10 cents, he says.
"That's almost historical for a one-day drop. I don't think I've seen that since 2009," McTeague told CTVNews.ca over the phone on Friday evening.
Canadians have been reeling from record-breaking prices at the pumps. Since early October, the average price of gas in Canada has hovered between $1.47 and $1.50 per litre, according to data from Natural Resources Canada.
"We haven't seen prices this low in three months. And I think it's very welcome for now, for most people," McTeague said.
No price increases are expected in the Atlantic provinces, given that prices are regulated by the provincial governments in the region.
McTeague's forecast comes as the global price of oil tumbled 13 per cent to below US$70 a barrel, after fears surrounding the newly discovered omicron variant of COVID-19 prompted a mass oil selloff.
"It was an overreaction. We've been through this before. The selloff, I think, went beyond what would normally be considered in measured response," McTeague said. "The fundamentals remain now, and for the future, until someone can demonstrate the economies are literally shutting down because of this particular variant."
The U.S., China and other countries had announced plans to release their strategic oil reserves amid the high price of oil at the time earlier this week. However, McTeague says the recent drop in prices had nothing to do with this move.
"This drop was completely COVID related," he said.
The best time to fill up will be between Sunday and Tuesday, McTeague said. Gas prices could come back up, as Organization of the Petroleum Exporting Countries could delay its plans to increase oil production.
McTeague also said that many of the "more serious and experienced" energy market traders had been away this week due to U.S. Thanksgiving, and that the market could correct its "overreaction" once these traders return to work next week.
"I think cooler heads will prevail come Monday, which will mean possible price increases by Wednesday," McTeague said.
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
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A grieving mother is speaking out after her 36-year-old son was shot and killed in North Preston, N.S., Wednesday night.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.