Here's when gas prices will drop 4 cents a litre in Ottawa
Some relief is on the way for motorists at the pumps, after gas prices climbed in Ottawa overnight to the highest levels since August 2022.
Gas prices jumped 14 cents a litre Thursday morning at stations in Ottawa and across Ontario. Motorists in Ottawa reported gas selling for $1.78 or $1.79 a litre.
Canadians for Affordable Energy president Dan McTeague says gas prices will fall 4 cents a litre on Friday to 175.9 cents a litre.
McTeague has said this week's 14-cent increase in gas prices is due to the higher cost of summer blended gasoline, as refineries switch from winter to summer blend.
"Sometimes it is 5 cents or 6 cents, I've seen it as bad as 10, maybe 11 cents but never 14 cents," McTeague told CTV Morning Live.
"The cost to refineries of switching butane, which they use during the winter for winter gasoline, swapped out for something called alkylates has gone through the roof. With it, we saw a pretty big increase on the U.S. markets for the switch over from winter to summer gasoline.
"This year, it was about 12.5, 12.6 cents a litre….with the Canadian exchange being as weak as it is, that didn't help."
McTeague says the gas prices jumped 14 cents litre on Thursday across southern Ontario and Quebec.
"Summer gasoline is far more expensive than winter."
According to www.ottawagasprices.com, gasoline was selling one year ago for $1.51 a litre in Ottawa. Gas hit $2 a litre in May and June 2022.
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