Gas prices to drop 5 cents tonight
Pump prices in the Greater Toronto Area are expected to plunge by five cents after midnight Tuesday.
That will put the average cost of a litre of gas at 115.9 cents.
Dan McTeague, senior petroleum analyst at GasBuddy.com says that follows a steady downward trend. After a spike after Hurricane Harvey lashed Texas and closed refineries, McTeague says prices have dropped close to 13 cents over nine days.
McTeague says about a cent of the coming decrease can be attributed to more refineries coming back online. Some strength in the Loonie helps too but a switch from summer to winter gasoline is the biggest reason for the decline.
McTeague says all gas at the pump has to be switched over to a "winter blend". Because it's three to four cents per litre cheaper to produce, McTeague says you'll save an average of $2 per fillup.