Ottawa gas prices drop, but not for long
Ottawa gas prices drop, but not for long
The price to fill up the gas tank for the start of your long weekend road trip got a little cheaper, but the relief at the pumps will be short-lived.
Gas prices dropped 10 cents a litre at Ottawa stations to 196.6 cents per litre at Ottawa gas stations on Friday, while some stations were selling for $1.95.
However, Canadians for Affordable Energy President Dan McTeague says prices are expected to rise back above $2 a litre over the weekend.
"This is the only day I'd recommend filling up," McTeague told Toronto's CP24. "We're going to see a four cents increase on Saturday."
McTeague said late Friday afternoon that gas prices will drop two cents a litre on Sunday.
Several stations charged 206.9 cents per litre in Ottawa on Saturday, but some stations continued to post prices below $2/L.
Gas prices dropped 13-cents a litre at stations in Ottawa and across southern Ontario since Wednesday, which McTeague said was "very unexpected" as markets dropped over fears of a recession.
The highest price for gasoline in Ottawa was $2.09 a litre on Wednesday.
McTeague says gas prices will top that by next weekend.
“Next week, the Americans begin their unofficial kickoff to the summer driving season. That's going to put a lot of pressure on gas prices for us here in Canada. They are really the ones to determine prices for us, they’re a large market," McTeague said Friday morning.
"I would expect that we're going to be back to $2.10 a litre probably within the next week or so. Unfortunately it's not good news; shortage of supply and demand is pretty strong despite the high price."
According to ottawagasprices.com, the average price of gasoline in Ottawa was $1.25 a litre in May 2021, and $0.87 a litre in May 2020.
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