After days of skyrocketing gas prices in Montreal, some relief is on the way with an expected drop at pumps across the nation coming as early as tomorrow.
So if you are debating topping up a bit before fuel prices go even higher like they have been for the past couple of weeks, don’t!
How much are fuel prices set to drop?
Roger McKnight, chief petroleum analyst for En-Pro International, says prices in Montreal are set to drop as early as Friday.
According to the latest daily pump price survey from Kent Group, regular gas in Montreal sits at $1.985 per litre.
The price drop is due to the international market’s reaction to some of the largest oil producers agreeing to increase crude production.
“The announcement by Iraq and UAE was that they were willing and able to increase crude production in an effort to replace any or some of the Russian crude now off the market because of the theoretical ban on the importing of Russian crude,” said McKnight.
“There appears to be a willingness of Ukraine to discuss a truce with Putin,” McKnight added.
McKnight is predicting significant drops for the following locations:
- Montreal: 15 cents per litre
- Vancouver: 14 cents per litre
- Manitoba: 12 cents per litre
- Saskatchewan: 12 cents per litre
- Halifax: 13 cents per litre
For those of you who are running dangerously low on fuel and need to fuel up today, we feel for you. Maybe just put 20 bucks in to get through the day.