Gas prices in Ontario expected to dip by Friday: ‘GOOD NEWS FOR THE MARKET’
· Toronto Sun
Drivers, you may want to hold off as long as possible to fill up the tank.
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Gas analyst Dan McTeague said that the price at the pumps will fall two cents a litre to 186.9 on Thursday and drop significantly Friday to 173.9, per CP24 .
For drivers who are close to running on fumes, McTeague suggested not filling up until Friday, getting just enough to get you where you need to be.
“Wait until Friday,” he advised. “It will be well worth the delay.”
This comes after the price of crude oil fell sharply on Wednesday after the United States, Israel and Iran agreed to a two-week ceasefire (which is currently in doubt as the U.S. and Iran offer conflicting views on whether Lebanon was part of the initial ceasefire terms, but shhh, let’s not go there just yet).
“It is good news for the market, at least temporarily for the next two weeks,” McTeague told the outlet, adding that the savings will amount to $10 and $15, depending on the size of the tank.
Diesel prices are also expected to dip on Friday by 28 cents per litre to 206.9, he noted.
Diesel is the real issue
“That will be important news for those who carry and freight everything we have in this country from train to jet to trucks,” he explained.
Since the conflict in the Middle East began, the price of diesel was always most concerning to McTeague.
“Diesel affects the price of everything,” he previously told the Toronto Sun .
We’re seeing it as airlines raise and add costs due to the fluctuating oil prices. And we’re seeing it in our grocery bills — and if agri-food expert Sylvain Charlebois’ report is correct, we’ll continue to see it because food logistics systems don’t operate on daily spot prices.
“It’s the global workhorse, it’s the most important fuel — more important than gasoline or anything else,” McTeague said.