Drivers across Toronto and the Greater Toronto Area (GTA) will see a significant drop at the pumps this week, with gas prices expected to fall to 126.9 cents per litre on Wednesday.
According to industry analysts En-Pro and historical data compiled by CityNews, this marks the lowest price since April 2025. Before that, motorists would have to look back to April 2021—during the height of the COVID-19 pandemic—when prices dipped to 122.9 cents per litre.
Historical context
- April 2025: Last time prices fell below current levels.
- April 2021: Gas hit 122.9 cents/litre, one of the lowest points in recent memory, as pandemic restrictions reduced travel and demand.
In April, gas prices dropped sharply after the federal government abolished the consumer carbon charge, which had been set at 17.6 cents per litre.
The move, one of Prime Minister Mark Carney’s first actions in office, reduced costs at the pump and brought prices down to their lowest point since December 2021.
