Gas prices expected to drop across Ontario on Wednesday
A motorist reaches for the pump at a gas station in Toronto on Thursday, Feburary 24, 2011. (Patrick Dell / THE CANADIAN PRESS)
Adam Ward, CTV Barrie
Published Tuesday, September 12, 2017 1:45PM EDT
The price of gas in Ontario is expected to fall on Wednesday.
Dan McTeague, an analyst with Gasbuddy.com, says the price of gas will fall about five cents at midnight, as refineries switch to their winter fuel.
“For average motorists filling up that could mean a $3, even a $4 savings. So best to wait until tomorrow,” he says.
McTeague says refineries in Canada and the United States are moving to winter blended gasoline, which is cheaper to produce.
“It’s because in the summer they have to add additives to the fuel to ensure gasoline doesn’t evaporate at high temperatures.”
Those summer additives, according to McTeague, drive up the cost of gas by three to four cents.
The price of gas shot up right across Canada at the end of August after Hurricane Harvey forced several refineries in Texas to close.
McTeague expects all refineries to be back up and running next week.