Here's when gas prices will drop below $2 a litre in Ottawa
Here's when gas prices will drop below $2 a litre in Ottawa
Gas prices are set to fall 13 cents a litre over the next two days, giving drivers some relief at the pumps ahead of the Victoria Day long weekend.
Gas is selling at 209.9 cents a litre at Ottawa gas stations on Wednesday, a record high for prices in the capital.
Canadians for Affordable Energy President Dan McTeague says gas prices will fall three cents a litre on Thursday, followed by a 10 cent a litre drop on Friday.
Prices will drop to $1.96 a litre at the start of the weekend.
McTeague says the reason for the drop in gas prices is stock markets panicking over the U.S. federal reserve rate increase and talk of a global recession.
Gas prices have continued to rise in Ottawa through the spring, surpassing $2 a litre for the first time last Saturday. McTeague has said the price hike since February can be tied to fuel supply shortages amid Russia's invasion of Ukraine and international sanctions.
With files from CP24's Kerrisa Wilson
CTVNews.ca Top Stories
Anti-Taliban law could be tweaked to get more humanitarian aid to Afghans: minister
A law outlawing any dealings with the Taliban, which charities complain is impeding their ability to help needy Afghans, could be adjusted by the federal government to give more flexibility to aid agencies.

Celebrations, protests take place on Canada Day in Ottawa
Thousands of people wearing red and white and waiving Canadian flags packed downtown Ottawa to celebrate Canada's 155th birthday on Friday, while groups of protesters popped up around Parliament Hill to protest COVID-19 vaccines and federal restrictions.
'It's recent': Survivor reflects on last Sask. residential school closing 25 years ago
It's been 25 years since Saskatchewan's last residential school closed, but some are still healing.
Russian forces press assault on eastern Ukrainian city of Lysychansk
Russian forces are pounding the city of Lysychansk and its surroundings in an all-out attempt to seize the last stronghold of resistance in eastern Ukraine's Luhansk province, the governor said Saturday.
Biden intends to nominate a conservative, anti-abortion lawyer to federal judgeship, Kentucky Democrats say
U.S. President Joe Biden intends to nominate an anti-abortion Republican lawyer to a federal judgeship, two Kentucky Democrats informed of the decision say.
'Summer of recovery': Pandemic-stricken tourism industry sees signs of optimism
Canada Day has kicked off the unofficial start of summer, and the tourism sector is hopeful the first season in three years largely free of COVID-19 restrictions will marshal a much-needed boost for a pandemic-stricken industry.
'You do not want this' virus: California man with monkeypox urges others to get vaccinated
A California man has posted a widely-shared video in an attempt to educate people about the monkeypox virus outbreak, to encourage people to get vaccinated if they're eligible and to make it very clear: 'You do not want this.'
West Vancouver retiree heading back to Ukraine to help abandoned animals
When Dan Fine returned from his first trip volunteering at animal shelters on the Polish-Ukrainian border in late April, he immediately felt compelled to return to continue helping pets that have been left behind in the war.
'We have to build bridges': Canadian singer Chantal Kreviazuk on Ukraine, reconciliation
Moving toward reconciliation doesn't come from jumping 'the queue to perfection,' but by building bridges and trusting one another, Canadian singer-songwriter Chantal Kreviazuk told CTV News Channel during Canada Day celebrations in Ottawa on Friday.