Gas prices headed for big drop on Saturday. What you need to know

You’ll want to prioritize filling up the gas tank this weekend.

According to Roger McKnight, Chief Petroleum Analyst at En-Pro International Inc., gas prices are expected to drop seven cents to 132.9 a litre at most stations on Saturday, April 5.

That’s the lowest price experienced at the pumps since December 2021.

Prices have started to come down in Canada as the consumer carbon charge dropped to zero from 17.6 cents per litre earlier this week.

Across the Kitchener and Waterloo area, gas prices went from 156.9 cents a litre on Monday to 136.9 cents a litre on Tuesday. In the past 48 hours, daily prices at most local gas stations had been 138.9 cents a litre.

One of Prime Minister Mark Carney’s first actions, when he took office last month, was abolishing the consumer carbon charge, which had previously been set at $80 per tonne—an amount that has increased yearly since it was first imposed in 2019.

The Canadian Fuels Association estimates that removing the carbon tax could result in consumer savings of over $500 annually.

Although most provinces experienced price drops, Quebec is the only one continuing to apply a carbon levy through its cap-and-trade system.

The final Canada Carbon Rebate will be paid starting Tuesday, April 22, for those who file their 2024 tax returns before Wednesday. For those filing after that date, the rebate will be sent after their returns are assessed.

With files from The Canadian Press