The cost of fuel will be lowest the Greater Toronto Area has seen in more than two months this week, a gas price analyst predicts.
On Wednesday, the price of both gasoline and diesel is expected to fall 11 cents a litre, to 167.9 and 235.9 respectively, says Dan McTeague, of Canadians for Affordable Energy.
He said the last time drivers would have seen gas at 167.9 a litre was on Aug. 9, while diesel, at 235.9 a litre, hasn’t been seen since Sept. 2.
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“The drop comes on optimism over a deal that would see shipping traffic resume in the Straits of Hormuz, while some speculate tomorrow’s U.S. midterms could see a speedier resolution to the conflict in the Middle East,” McTeague said in an email to CP24.
“Longer term assessments on the direction of fuel prices remains up in the air as previous efforts have inevitably fallen short, causing prices to resume and test record levels.”
