Massive drop in gas prices coming to Ontario
Insauga
Ryan Rocca, 4/8/2026
A massive drop in gas prices is coming to Ontario after the United States, Israel and Iran reached a ceasefire.
The countries reached a two-week ceasefire in the war that tore across the Middle East and disrupted the global energy market, with U.S. President Donald Trump pulling back from his threats to destroy Iranian “civilization.”
The ceasefire has led to a significant drop in oil prices and drivers can expect to soon pay less at the pumps, according to one analyst.
Dan McTeague, analyst, said that gas prices can be expected to fall at least 12 cents a litre come Friday.
But the drop may be even larger than that, Dan McTeague said.
According to gaswizard.ca, in the Greater Toronto Area the price for a regular litre is also expected to drop two cents come Thursday, bringing it to $1.869.
A 12-cent drop on Friday would bring it to $1.749, though again McTeague said the decrease could be even larger.
