Some Ontario drivers may be enjoying the recentgas price decline, but analysts say fuel costs will be in the coming weeks. States that it can be "whole map".
On Thursday, gas prices fell another 12 cents in most major cities across the state, averaging $ 1.79 per liter in Toronto, GTA, Ottawa, Hamilton, London, Barry, Kitchner and more. It has fallen.
Read more: Expected drop in gas prices in most Ontario cities on Thursday by 12 cents: Analysts
However, Dan McTeague, president of Canadians for Affordable Energy, could move gas costs in a different direction in the coming weeks.
"Supply remains tight normally, and if anything, such a dramatic price drop actually encourages people to use more of our less. Maybe, "said McTeague.
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He states that this could result in an "energy supercycle" or a temporary decline due to the market. I did.
" In particular, people who are not based on supply and demand fundamentals may be clamoring for oil to return to $ 150 a barrel when they make your decision, "McTeague explained.
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He added concern about the possibility of a recession.
"I think it will come back soon after prices start to stabilize, especially evidence that supply conditions are far worse than concerns about the disruption of demand as a result of these high prices. Because we are collecting, the threat of a recession, "McTig said.
A fall on Friday is expected to reduce costs to $ 1.76 per liter in GTA and most Ontario cities. This could be the lowest payment since April 15th.
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A state gas tax cut was implemented on July 1st, causing prices to fall.
I'm really relieved, "premier Dougford said in a media release on Friday. "This gas tax cut will provide more relief with pumps for diligent families and businesses and will return more money to their pockets to which it belongs."
Ontario Government Reduced gas tax by 5.7 cents per liter until the end of the year.
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