Ottawa motorists will find some relief at the gas pumps this weekend.
Canadians for Affordable Energy president Dan McTeague said gas prices were expected to drop 8-10 cents a litre at stations in Ottawa and Toronto on Saturday. Gas was selling for $1.32 a litre at stations on Bank Street Saturday morning.
McTeague says gas will drop another 3 cents a litre on Sunday, with some stations selling gas for $1.269 cents a litre.
In a post on X, McTeague said the “tariff market meltdown” is the reason for the drop in gas prices.
“Energy markets are simply saying with this kind of a tariff war, it’s not good for the outlook, for the future demand for gasoline. So, they’re really starting to cash in, and, you know, drop the price of energy future,” McTeague told CTV News Ottawa on Friday.
Oil prices plunged on Thursday following U.S. President Donald Trump’s decision on tariffs and OPEC’s move to increase output by more than 400,000 barrels of daily output next month.
🚨 Price 🚨: Tariff market meltdown means #GasPrices to fall 8-9 cents/l to no more than 131.9 cts/l Saturday for #Toronto #GTA #Ottawa with even lower $$ for #LdOnt #KW #Windsor #Niagara #Sarnia #Kingston #Sudbury#Montreal & #QC to 👀 a similar drophttps://t.co/O1gQlGIrWw
— Dan McTeague (@GasPriceWizard) April 4, 2025
Gas prices dropped 20 cents a litre on Tuesday following the federal government’s move to lift the consumer carbon tax from fuel prices. As of April 1, gas bars are no longer required to collect the 19.9 cent carbon tax on gasoline.
The price of gas dropped to $1.359 and $1.366 on Tuesday, before increasing slightly through the week.
McTeague told CTV News Toronto that gas prices will rise by 6.3 cents per litre in mid-April with the switchover to the summer blend of fuel.
With files from BNN Bloomberg and CTV News Toronto and CTV News Ottawa’s Kimberley Johnson
