Ottawa gas prices to drop to lowest level in six months this weekend
Ottawa motorists will enjoy some relief at the gas pumps this weekend, with gas prices set to drop to their lowest levels since February.
After a 12 cents a litre decrease in prices at Ottawa stations over the past two days, Canadians for Affordable Energy President Dan McTeague says prices will drop eight cents a litre on Saturday, with another two or three cent a litre decrease possible on Sunday.
"The prices we're going to pay (Saturday) are similar to what we paid back in February – February 27. It's been six months since we've seen this kind of prices," McTeague told Newstalk 580 CFRA's Ottawa at Work.
Gas prices dropped six cents a litre on Thursday to $173.9 cents a litre, with another six cents a litre drop on Friday bringing the price to $1.679 a litre. Some stations were selling gas for as low as $1.659 a litre Friday afternoon.
"I woke up this morning and I'm like, 'Holy crap, gas is like, is this a joke?'" said Stephanie Mercanti.
"The relief is going to help me a lot more," said Tania St. Pierre. "So I’m able to go father. Go longer. Help more clients."
The personal support worker says they were probably spending $60 to $70 a day on gas.
"My job means so much to me, being a personal support worker, helping these seniors, people with disabilities. I will take the hit to help them. So with this gas relief, it’s a break for me," St. Pierre said.
The price of a litre of gas in Ottawa hit a record 215.9 cents on June 11.
With McTeague forecasting an eight cent a litre drop in gas prices on Saturday to $1.599 a litre, that will mean gas prices have dropped 56 cents a litre in less than two months.
"These are very welcome prices, but the problem with all this is … don't take it for granted and don't expect it to last, because the markets I think are overestimating the amount of demand drop we've seen in the United States and underestimating the severest supply shortage that we're having," McTeague said.
Gas prices have been on the decline since mid-June amid a drop in demand and rising fears about a recession. The Ontario government cut the gas tax rate on July 1 from 14.7 cents per litre to 9 cents per litre.
McTeague expects to see gas prices begin to rise next Friday, with higher prices coming by the end of August.
"Prices are likely to snap right back as violently as anything we've seen."
According to ottawagasprices.com, the average price of gasoline in Ottawa was $1.32 a litre in August 2021 and near 92 cents a litre in August 2020.
CTVNews.ca Top Stories
'Too young to have breast cancer': Rates among young Canadian women rising
Breast cancer rates are rising in Canada among women in their 20s, 30s and 40s, according to research by the University of Ottawa (uOttawa).
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Canada recognizes housing as a human right. Few provinces have followed suit
As more Canadians find themselves struggling to afford or find housing, the country's smallest province is the only one that can point to legislation recognizing housing as a human right.
'Violation': CSIS had officer investigated after she reported a superior raped her
A CSIS officer's allegations that she was raped repeatedly by a superior in agency vehicles set off a harassment inquiry, but also triggered an investigation into her that concluded the alleged attacks were a “misuse” of agency vehicles by the woman.
What to know about avian influenza in dairy cows and the risk to humans
Why is H5N1, or bird flu, a concern, how does it spread, and is there a vaccine? Here are the answers to some frequently asked questions about avian influenza.
Pro-plastic lobbyist presence at UN talks is 'troubling,' say advocates
Environmentalist groups are sounding the alarm about a steep increase in the number of pro-plastic lobbyists at the UN pollution talks taking place this week.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.