‘Hold off filling up until Thursday,’ says analyst, as cost of fuel expected to drop significantly in Ontario, Quebec

Dan McTeague, the president of Canadians for Affordable Energy, is pictured next to a person pumping in Mississauga. (THE CANADIAN PRESS/Christopher Katsarov)

The cost of fuel across Ontario and Quebec is expected to drop significantly later this week, a gas price analyst is predicting.

Dan Teague, of Canadians for Affordable Energy, tells CTV News that the cost of gasoline across the two provinces will be down by 12 cents to 158.9 cents per litre, after Wednesday’s no change at the pumps.

“That’s a price not seen since June 26,” he wrote in an email to CTV News.

Diesel, meanwhile, will fall 11 cents on Thursday, McTeague said, matching the price set on June 15 of 205.9 cents per litre.

“Hold off filling up until Thursday,” he advised.

McTeague is attributing the relief at the pumps to markets “shedding the war premium on gasoline and petroleum products,” amid a reported peace deal between the United States and Iran.