Gas prices predicted to fall tonight
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Prices at the pump are expected to drop by two cents a litre tonight, to an average of 130.2 in the GTHA.
This follows some dramatic swings of as much as 10 cents a litre in gasoline prices in the last 24 hours. Some gas retailers temporarily cut prices to a 121 a litre yesterday, before restoring prices at midnight above 132 for regular unleaded.
Some outlets are still selling fuel in the $1.21 range.
The price swings happened as crude oil prices fell by two per cent yesterday to the $95 U.S. a barrel level, the lowest price for crude since january.
Oil production in the U.S., the world’s biggest consumer, increased to the highest level since April 1987. Industry watchers say world oil supplies are building.
