Toronto: Gas prices have fallen in most parts of Toronto and the GTA and have been steady compared to last month, but the good times won’t stick around for long.
The gas prices at most GTA stations are likely to drop a cent on Thursday. It will be the lowest gas prices this month, after rising to $ 1.749 a liter in start of August, said Roger McKnight, Chief Petroleum Analyst at En-Pro International.
McKnight said gas demand has slowed down now than it was before and the prices could rise again as the cooler wearing arrives in southern Ontario likely in September and through October.
He said if diesel prices go up, it drags up gasoline prices Gasoline prices.
Meanwhile, oil prices started increasing in mid-2020 as economies recovered from the initial shock of the Covid-19 pandemic.