Industry expert says prices will drop again Friday before taking a big jump
Gas prices are set to drop by another 4 cents per litre tomorrow but at least one industry analyst is warning the relief will only be temporary.
President of Canadians for Affordable Energy Dan McTeague says prices are bottoming out.
Gas prices have hit the $1.54 range across southern Ontario, down nearly 60 cents from their peak of $2.15 cents per litre on June 11.
However, McTeague says prices could jump nearly 30 cents to $1.90 cents per litre in the coming days.
He attributes the coming rise to the ongoing volatile oil and gas market.
Prices have been elevated since late February due to fuel supply shortages amid Russia’s invasion of Ukraine, and the international sanctions that have been imposed as a result of the war.
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