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Toronto-area gas prices set to drop 4 cents on Thursday, but will rise again on Friday: analyst

A gas station pump filling a car. Getty Images

Gas prices in the Greater Toronto Area (GTA) are expected to drop on Thursday, providing a brief reprieve from the record-high prices experienced in the region.

In an email to Global News late Wednesday afternoon, Dan McTeague, president of Canadians for Affordable Energy, said gas prices are set to drop by four cents in Toronto and the GTA on Thursday.

McTeague said gas prices in most of the region will sit at 192.9 cents per litre.

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However, he said it will rebound on Friday by five cents, and rise to 197.9 cents per litre for most of Toronto, the GTA and Southern Ontario.

Gas prices in the GTA hit record-highs over the weekend, with prices reaching 199.9 and 200.9 cents per litre at some pumps.

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According to the GasWizard website, on Wednesday, the average price for gas in Toronto sat at 196.9 cents per litre.

In an interview with Global News on Saturday, McTeague said drivers can expect to pay as much as $2.10 per litre in Toronto and the rest of southern Ontario sometime in the next two weeks.

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