Gas prices fall putting Doug Ford halfway to his 10 cent drop promise

Gas_Pump

Have you noticed lately that trips to the gas station haven't been as painful?

As of midnight Wednesday, the price at the pumps will have fallen 13 cents in 13 days in the GTA.

NEWSTALK 1010 first told you on the Rush that the cost of a litre of regular is expected to fall five cents a litre for Wednesday, down to a price of 124.9 cents a litre for regular at most GTA stations.

Gasbuddy.com's Dan McTeague is giving credit to Premier Doug Ford for part of the drop.

He tells NEWSTALK 1010 that refiners stopped passing along the 4.6 cents a litre cost of Ontario's cap and trade program on September 7th.

That means Ford is almost halfway to his promise of cutting the cost of gas by 10 cents a litre.

The difference could be made up as early as next year when Ford introduces next year's budget.

McTeague attributes the remainder of the recent drop to the switch over to the winter blend of gasoline which is cheaper to produce.

He believes prices could go up or down slightly over the short term, but wouldn't be surprised to see prices hit $1.20 a litre sometime soon.