Toronto and GTA drivers will see another drop in gas prices as early as Thursday, according to industry analysts — continuing a volatile stretch that has seen pump prices swing sharply throughout late July and early August.
Roger McKnight with En-Pro International says gas prices are expected to drop nine cents to 163.9 cents/litre on Thursday.
Gas prices across Toronto have been fluctuating significantly this summer, with daily changes often ranging between two and 10 cents. Per CityNews’ historical data, the average price at GTA stations has hovered around 172.9 cents/litre in recent days, holding steady on Aug. 3 and 4 after small declines earlier in the month.
July saw even sharper movement, with prices reaching a high of 183.9 cents/litre and dropping as low as 163.9 cents/litre — a spread of 20 cents within the same month. In June, prices ranged from 157.9 to 177.9 cents/litre, reflecting ongoing market instability.
In May, the range widened further, from 169.9 to 192.9 cents/litre, driven by refinery supply issues and global crude fluctuations.
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