Industry analyst Dan McTeague informed that the energy markets reacted significantly to the recent developments regarding U.S. tariffs, resulting in a more than six percent decrease in oil prices.
According to McTeague, this situation caused a reduction of 18 cents per gallon on the New York Mercantile Exchange .
Despite this downturn, he predicts that drivers can expect a decrease of eight to nine cents per litre in gasoline prices this Saturday, today.
Motorists are advised to postpone refueling until that time, as fuel prices in the Greater Toronto Area, Hamilton, London, Kitchener-Waterloo, Barrie, and Ottawa are projected to drop to approximately $1.32 per litre.
Additionally, gas prices in the region had already experienced an average decline of 20 cents per litre following the federal government’s removal of the consumer carbon tax earlier this week on April 1.