You might want to wait until Thursday to fill up your gas tank, according toÌýDan McTeague, president of Canadians for Affordable Energy.Ìý
Gas prices in É«É«À² and the surrounding areas are expected to drop around 10 cents per litre Thursday morning, to an estimated 133 cents per litre, according to McTeague’s website . The drop is a more significant decrease than the five to six-cent drop normally seen around this time of year, he said.
The reason? The Canadian government requires the blend of gasoline used in the summer to include alkylates making it more resistant to evaporation, he said. In the winter, those alkylates are swapped out for butane, which is cheaper.
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The switches from summer to winter blends and vice versa are made around mid-September and mid-April respectively, McTeague said.Ìý
“That’s why there’s a big difference in price,” he added. “We often see prices going up on April 15 and we see it going down on Sept. 15.”
After Thursday’s expected drop, prices are expected to beÌýsimilarÌýin the coming weeks and months.Ìý
“Generally, we have more volatility for gasoline prices in those summer months than we do in the winter months,” McTeague said.Ìý
Prices this year will be similar to gas prices in 2024 despite the removal of the consumer carbon tax, he added, because Canadian gas prices follow the trends of theÌýU.S. fuel market.
For drivers hoping to save money long-term, McTeague offered an insider tip.
“Never, ever buy your gasoline before 6 p.m.,” he said. Many pumps start their days by including a 10-cent profit margin in their prices, he said, which decreases as they make sales throughout the day.
“You can save anywhere from six to ten cents a litre by waiting until after 6 p.m. any day of the week.”
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