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Gas prices are expected to drop by 8 cents across Ontario on Thursday

Gas prices are expected to drop by 8 cents across Ontario on Thursday

By Omayma othmani

Published: November 9, 2022

Drivers across the province may want to postpone filling their gas tanks until Thursday, as fuel prices are expected to drop by eight cents over the next two days.

The average price of a liter of gasoline in Ontario is also expected to drop by four cents overnight to 172.9 cents per liter and by another four cents to 168.9 cents per liter on Thursday, according to industry analyst and head of Canadians for Affordable Energy Dan McTeague.

This comes after the fuel price in the province reached its highest level in three months in October, with gas prices exceeding $1.80 per liter for the first time since July.

Also, despite the expected relief over the next two days, McTeague told CP24 late last month that gas prices will continue to rise and drivers may soon see prices reach over $2 per liter, adding that the adjusted provincial gas tax rate, which was reduced by about six cents per liter, is scheduled to return to its normal rate in January, which will increase the fuel price.

So far, the Ford government has not said whether it will consider extending the limited-time measure. McTeague also said that inflation, along with certain policies aimed at combating carbon pollution, including the "Clean Fuel Standard" tax proposed by the federal government, will continue to make energy affordability more difficult.

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