Aug 06, 2022
By Steve Kee
Gas prices have fallen again in the Toronto area but this recent honeymoon may soon be over.
According to Dan McTeague, President of Canadians for Affordable Energy, there is an 8-cent drop in areas like Toronto, Niagara, Windsor, and Ottawa and we are seeing prices down to 159.9 cents per litre today.
That’s the lowest prices seen in the region since February 2022.
Gas prices in the GTA reached a record 214.9 cents per litre in June but have now been on the decline for weeks amid a drop in demand and rising fears about a recession.
But McTeague is predicting a jump to 166.9 tonight in Toronto, Ottawa, Kitchener, Barrie and Niagara Region.
Prices, however, remain significantly higher than last August when the cost at the pumps topped out at around 140 cents per litre.