Drivers are ready to get some relief from the pumps, as gas prices will fall by 13 cents per liter by Friday.
Average gas prices reached $ 209.9 a liter in southern Ontario on Wednesday, setting a new record and a huge 12-cent rise last Friday.
However, Canadian President for Affordable Energy Dan McTeague says prices will fall by three cents to 206.9 per liter from midnight and then another 10 cents to 196.9 per liter by Friday.
McTieg said the drop in prices was due to concerns in global markets about a potential recession.
Pump prices have risen since late February due to fuel shortages amid Russia’s invasion of Ukraine and international sanctions imposed as a result of the war.
Natural Resources Canada said the average price of regular gasoline in Canada reached $ 2.06 per liter on Monday, with the most expensive price in Vancouver being $ 2.34 per liter.
On Wednesday, Statistics Canada said annual inflation rose 6.8 percent year-on-year in April. The National Agency added that Canadian drivers paid 36.3% more for gasoline in April than a year ago.
-With files from The Canadian Press
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