Gas prices in several Ontario cities expected to drop this weekend. Here’s by how much

A man pumps gas in Montreal, Friday, March 4, 2022. THE CANADIAN PRESS/Graham Hughes

Another price drop at the pumps is expected in the Greater Toronto Area this weekend.

Industry analyst Dan McTeague tells CP24 that “energy markets responded dramatically to the [U.S.] tariff saga today by dropping oil over six per cent.”

McTeague says that decision led to an 18 cent per gallon drop on the New York Mercantile Exchange (NYMEX).

Despite the sell off, McTeague says drivers can anticipate an eight to nine cents a litre decline in gas prices this Saturday.

Drivers are urged to hold off on filling up until then, when pump prices in the GTA, Hamilton, London, Kitchener-Waterloo, Barrie, and Ottawa are expected to fall to about $1.32 per litre.

Gas prices in the region had already taken an average 20 cents per litre dive after the federal government removed the consumer carbon tax earlier this week on April 1.