What to know
- Gas prices across the GTA are expected to drop by about 12 cents per litre on Thursday.
- The expected decrease would bring regular gasoline to around 158.9 cents per litre.
- Diesel prices are also forecast to fall this week.
- The lower prices come as global oil markets continue to ease.
If your fuel tank isn’t empty just yet, waiting another day could save you money.
Gas prices across Toronto and much of southern Ontario are expected to fall significantly on Thursday, with regular gasoline forecast to drop by about 12 cents per litre after remaining unchanged Wednesday.
If the prediction holds, drivers in the GTA could see regular gas priced at around 158.9 cents per litre, making it one of the biggest single-day price drops seen in recent weeks.
Diesel prices are also expected to decline, with forecasts calling for a drop of roughly 11 cents per litre.
Why are prices falling?
The expected decrease comes as global oil prices continue to ease following signs of reduced geopolitical tensions in the Middle East.
Lower crude oil prices generally translate into lower wholesale fuel costs, which are then reflected at gas stations across Canada.
Should you wait to fill up?
For drivers who can wait, Thursday is expected to offer the better price.
The forecast suggests filling up after the expected overnight price change could save motorists several dollars on a full tank compared with buying gas Wednesday.
Where to find the cheapest gas
Drivers can compare fuel prices using apps and websites such as GasBuddy, while Canadians for Affordable Energy also publishes daily fuel price predictions based on wholesale market activity.
Should the forecast hold, Thursday’s expected price would mark one of the largest single-day drops Toronto drivers have seen in recent weeks.
