Motorists in Toronto and the Greater Toronto Area (GTA) are in for a pleasant surprise as fuel prices are expected to dip by nine cents per litre on Friday, bringing the cost down to 180.9 cents per litre. The prediction comes from Roger McKnight, the chief petroleum analyst at En-Pro International.
The drop in prices is scheduled to kick in at 12:01 a.m. on Friday. However, McKnight has expressed skepticism about the significant decrease, stating that it doesn’t seem to align with the current market conditions.
“Based on the latest futures market data, prices for Friday were projected to increase by one cent. The unexpected nine-cent drop in the east, coupled with a five-cent drop in Vancouver, seems inexplicable and might be subject to correction later today,” remarked McKnight.
This reduction follows a recent six-cent increase in gas prices on Thursday, which McKnight linked to pressures in the wholesale market.
Stay tuned for further updates on this developing story.
