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
BREAKING Iran fires air defence batteries in provinces as explosions heard near Isfahan
Iran fired air defence batteries early Friday morning after reports of explosions near a major airbase at the city of Isfahan, the state-run IRNA news agency reported.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.