GTA GAS PRICES TO DROP TO 196.9 CENTS A LITRE AHEAD OF THE LONG WEEKEND

May 19, 2022

By Jane Brown

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It looks as though drivers in the GTA are going to get a bit of a break at the gas pumps ahead of this coming long weekend.

Prices dropped 3 cents at midnight to 206.9 a litre for regular, and Thursday night at midnight, the cost of regular gas is expected to decrease another 10-cents to 196-9.

Dan McTeague is the president of Canadians for Affordable Energy.

He says Thursday night’s 10-cent drop is being driven by the unease of global markets over a potential recession.

McTeague was asked by Libby Znaimer on Zoomer Radio’s Fight Back the other day, if supply chains start to resolve themselves might we see lower gas prices this Summer?

“We could, but making matters more complicated is the fact the federal government has two or three taxes that they’re going to increase. The carbon tax will increase by 3-cents every year, starting next April, and of course, a year July, they introduce the new second carbon tax, that’ll be about 4 cents increase every year, so year over year, 7 cents a litre plus HST,” McTeague explained.

Listen for his full conversation with Libby by clicking here.

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