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
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
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.
Ex-tabloid publisher testifies he scooped up possibly damaging tales to shield his old friend Trump
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
Here's why provinces aren't following Saskatchewan's lead on the carbon tax home heating fight
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams, Jayden Daniels and Drake Maye make it four NFL drafts with quarterbacks going 1-3
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.