With the soaring cost of gas lately, you might want to be strategic about when you head to the pump. According to one expert, if you want to save a few bucks, hold off until Sunday, November 28, when gasoline prices are expected to drop drastically.
How's that for a Black Friday deal?
Price : HOLD OFF BUYING GASOLINE UNTIL SUNDAY \n\n*** 11 cent a litre drop likely across Canada *** \n\nDetails in 1 hour— Dan McTeague (@Dan McTeague) 1637960344
Dan McTeague, gas analyst and president of Canadians for Affordable Energy, predicts that gas prices are likely to go down by 11 cents tomorrow across the country, except in Atlantic Canada.
Gaz Wizard, McTeague's gas prediction website, shows regular gas in Montreal on November 27 to be priced at 154.9 cents per litre. On November 28, the figure decreases to 143.9 cents per litre.
According to McTeague on Twitter and in an interview with Global News, the drop in gasoline prices is due to "panic on the world markets" resulting from the discovery of the Omicron COVID-19 virus variant in southern Africa.
McTeague does not expect the drop to last long so fill up as soon as you see lower prices.
"Severe market overreaction. Smart Americans will be back behind the trade desks Monday morning," he tweeted. "So will [the Organization of Petroleum Exporting Countries]."
Quebec gasoline prices dropped all the way down to a dollar in March 2020 because of the pandemic, but have continued to rise in recent months, often surpassing the national average.
According to CAA-Québec's gasoline watch, the average price at the pump in Montreal is currently 151.2 cents per litre, which would mean a retail margin of 7.1 cents in one year.
This article's cover image was used for illustrative purposes only.
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