After weeks of pain at the pump, Montreal drivers may finally be getting a break. Gas prices in the city are expected to drop noticeably on Wednesday, according to experts.
Earlier this week, Dan McTeague, president of Canadians for Affordable Energy, told CTV News that regular gas could fall by as much as 14 cents per litre, while diesel could drop around 19 cents. His advice: don’t fill up today if you can help it.
“Do not buy gasoline until Wednesday at the stroke of midnight,” he said.
That tracks with what GasWizard.ca is showing for tomorrow, with Montreal prices set to come down significantly from today’s levels. As of March 24, regular gas in Montreal was sitting at 199.9 cents per litre. Tomorrow’s projected price drops to 186.9 cents.
The spike in the first place comes down to the ongoing conflict involving the U.S., Iran, and Israel, which has rattled global oil markets over the past few weeks. At the start of the strikes in the Middle East, Montreal drivers were paying around $1.52 per litre — a jump of close to 30% in roughly three weeks.
The reason for Wednesday’s expected relief: U.S. President Donald Trump said Monday that Iran was eager to reach a deal to end the war.
McTeague says that’s enough to move markets, but he’s not ready to call it a sure thing.
“But if it’s a head fake, like we’ve seen in the past from Donald Trump in terms of declaring something is over, it’s finished, we’ve accomplished our mission and yet you still have bombing campaigns going on and retaliation by Iran, then all bets are off and we could be resuming the high trek upwards,” he told CTV.
If a formal agreement does come together, though, gas prices around the world could come down just as fast as they went up.
This story was adapted from the article, “Le litre d’essence au Québec pourrait ENFIN baisser – Voici quoi savoir” was originally published on Narcity Quebec.
