Attention Toronto drivers: this is the best day this week to fill up your gas tanks

A driver filled up their gas tank at a Shell gas station in Kitchener, Ont. on March 25, 2026. (Dan Lauckner/CTV News)

Don’t fill up your gas tanks until Thursday, says one industry analyst.

Dan McTeague, the president of Canadians for Affordable Energy, predicts that the price of gas in Toronto and the rest of southern Ontario will drop 10 cents a litre on Thursday to 173.9.

The last time the price was that low was on April 24, McTeague says.

He adds that diesel will also fall below $2 to 195.9, a seven-cent-a-litre drop.

• Find the Lowest GTA Gas Prices here

McTeague says the price fall is due to the commodity futures market “going all in” on reports that the United States could be close to reaching a deal with Iran that would end the war and reopen the Strait of Hormuz, which is where a fifth of the world’s oil supply passes through.

With files from The Associated Press