Drivers rejoice! Gas prices are set to keep dropping in the GTA, with prices at the pumps continuing to fall this weekend.
Dan McTeague, president of Canadians for Affordable Energy, told Now Toronto that gas prices are set to fall 10 cents/litre on Saturday.
According to the gas price comparison website Gas Wizard, Toronto’s average price at the pumps will be about 130.9/litre on Saturday. It is sitting at an average of 140.9/litre Friday morning, up a penny from Thursday.
🚨 Price 🚨: Tariff market meltdown means #GasPrices to fall 8-9 cents/l to no more than 131.9 cts/l Saturday for #Toronto #GTA #Ottawa with even lower $$ for #LdOnt #KW #Windsor #Niagara #Sarnia #Kingston #Sudbury#Montreal & #QC to 👀 a similar drophttps://t.co/O1gQlGIrWw
— Dan McTeague (@GasPriceWizard) April 4, 2025
McTeague says that prices are expected to fall another three cents on Sunday, bringing the average Toronto gas price to 127.9 cents/litre. He says this average price will last until at least Wednesday and that there are several reasons for the upcoming drop at the pumps.
“The drop is due to market concerns that tariffs will dampen demand and of course this morning’s news that Canada lost 33,00 jobs in March, prior to tariffs, show the economy is particularly weak,” McTeague said in a statement to Now Toronto.
Earlier this week, the cost of gas fell by nearly 20 cents/ litre on average after Canadian Prime Minister Mark Carney put an end to the Consumer Carbon Tax, which was tacked on to the price of carbon-emitting products.
“I cancelled the consumer carbon tax on my first day in office — and today the price of gas is coming down,” Carney posted to X on April 1.
I cancelled the consumer carbon tax on my first day in office — and today the price of gas is coming down.
— Mark Carney (@MarkJCarney) April 1, 2025
pic.twitter.com/wvaOhK9F33
The tax, introduced in 2019 by Justin Trudeau’s Liberal government, worked out to 17.6 cents/litre, while the levy on natural gas was 15.25 cents/ cubic metre.
DRIVERS REACT TO DIP IN GAS PRICES
Over the past few days, people have taken to social media to share their thoughts on the prices at the pumps. Some are grateful to see some savings.
“Gas is over 20 cents a litre cheaper today. You can thank Mark Carney for that. #ElbowsUpCanada,” one person wrote on X.
“Dang, I had no idea the carbon tax was affecting gas prices that much!! Nice start to a Tuesday and the month of April,” another person posted.
Dang, I had no idea the carbon tax was affecting gas prices that much!! Nice start to a Tuesday and the month of April #ygk pic.twitter.com/ADa0XZ4h7G
— REID (@rockinreid) April 1, 2025
While others are more skeptical of the change.
“Yes gas dropped 20 cents in Canada today,” one woman posted on X. “Please for the love of everything don’t believe the government did you a favour! It will go right back up after the election.”
“Only reason gas dropped is because Liberals would get destroyed in the election if they didn’t move on the carbon tax. Totally hypocritical move, don’t vote Liberal if you want gas prices to stay low,” another person said.
