Gasoline prices in Ottawa will fall to their lowest level in six months this weekend

Ottawa motorists will enjoy some relief at the gas pump this weekend, with gas prices expected to fall to their lowest levels since February.

After prices fell 12 cents per liter at Ottawa stations over the past two days, Canadians for Affordable Energy president Dan McTeague said prices will drop eight cents per liter on Saturday, with a another drop of two or three cents a liter possible on Sunday.

“The prices we will pay (Saturday) are similar to those we paid in February – February 27. It’s been six months since we’ve seen this kind of award,” McTeague told Newstalk 580 CFRA’s Ottawa at Work.

Gasoline prices fell six cents per liter on Thursday to $173.9 per liter, with another drop of six cents per liter on Friday, bringing the price to $1.679 per liter. Some stations were selling gas for as low as $1.659 a liter Friday afternoon.

“I woke up this morning and I was like, ‘Holy shit, is gasoline a joke?'” Stephanie Mercanti said.

“The next generation will help me a lot more,” said Tania St. Pierre. “So I can go father. Go longer. Help more clients.”

The personal support worker says they were probably spending between $60 and $70 a day on gas.

“My job means so much to me, being a personal support worker, helping these elderly people, people with disabilities. I’m going to take the hit to help them. So with this gas assist, it’s a break for me,” St. Pierre said.

The price of a liter of gasoline in Ottawa reached a record high of 215.9 cents on June 11.

With McTeague predicting an eight cent per liter drop in gasoline prices on Saturday to $1.599 per liter, that means gasoline prices have fallen 56 cents per liter in less than two months.

“These are very welcome prices, but the problem with all of this is…don’t take it for granted and expect it to last, because I think the markets are overestimating the amount of drop in demand we have. view in the United States and underestimating the most serious supply shortage we have,” McTeague said.

Gas prices have been falling since mid-June amid falling demand and growing recession fears. The Ontario government reduced the gasoline tax rate on July 1 from 14.7 cents per liter to 9 cents per litre.

McTeague expects gasoline prices to start rising next Friday, with higher prices coming by the end of August.

“Prices are likely to come back as violently as anything we’ve seen.”

According to ottawagasprices.com, the average gasoline price in Ottawa was $1.32 per liter in August 2021 and nearly 92 cents per liter in August 2020.

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