Gas prices set for 9‑cent drop Thursday, falling to lowest level in weeks
Posted May 27, 2026 09:41:22 AM.
Last Updated May 27, 2026 10:02:32 AM.
Drivers across Waterloo Region will see another round of relief at the pumps on Thursday.
Gas prices are expected to drop nine cents to 173.9 cents per litre at most stations, according to Roger McKnight, chief petroleum analyst at En‑Pro International.
The decrease marks the second major drop in less than a week and pushes prices to their lowest level since mid‑May, based on CityNews’ historical gas‑price data.
McKnight says the market remains unpredictable, and further fluctuations are likely as summer demand ramps up.
Thursday’s dip follows the eight‑cent drop on May 22, which brought prices down to 183.9 cents per litre — the lowest at the time since early May.
The new decrease pushes prices even further below the highs seen earlier this month, when GTA drivers were paying more than 190 cents per litre, the highest since 2022.
CityNews’ gas‑price tracker shows that prices have swung dramatically throughout May, with multiple double‑digit overnight jumps and drops driven by wholesale market volatility, refinery output shifts and global crude fluctuations.
Thursday’s expected price of 173.9 is the lowest since May 14, when prices briefly dipped to the mid‑170s and sits well below the 2024–2025 average, which hovered between 180 and 190 cents.
