Price of gas expected to fall this Friday to lowest ahead of the long weekend

There’s some good news for GTA drivers heading into the long weekend with gas prices expected to be at their lowest since April.

 

According to a post on X by En-pro International Inc., Friday will see a two cent drop at the gas pumps, bringing prices down to $1.539 per litre.

 

This not only marks the lowest gas prices for the GTA since Apr. 4, said Dan McTeague, president of Canadians for Affordable Energy, but it’s also a significant drop in the cost of a litre of gas from a year ago.

 

“We are paying 10 to 12 cents a litre less than on this same date last year when prices averaged 163.9 cents a litre going into Labour Day,” McTeague said, adding that Canadians for Affordable Energy have been tracking gas prices nationwide for 25 years.

The price will jump back up to $1.559 per litre on Saturday, McTeague says, but this is still lower than what drivers were paying at the beginning of this month.

 

Daily posts by En-pro on X show that prices hovered between $1.60 and $1.67 per litre for most of August, dropping below $1.60 for the first time on Aug. 21. Prices have steadily dropped since.

 

The decrease comes ahead of the Labour Day long weekend when many Canadians are expected to travel one last time before the start of school and ahead of the onset of fall on Sept. 22. In anticipation of increased travel, Circle K offered a 10 cent per litre discount on gas Thursday afternoon between 4 p.m. and 7 p.m. local time across the country.

 

A spokesperson for the Consumers Council of Canada said the cause of the drop could be seasonal as overstock on summer fuel is marked down ahead of the fall.

 

 

 

This article was first reported by The Star