Gas prices drop 10 cents overnight in GTHA and Niagara

Prices at the pumps have plummeted partly due to the price war in Russia and Saudi Arabia, but also because of the ongoing spread of the coronavirus.

Dan McTeague, the president of Canadian’s for affordable energy, says the latest drop came after Russia and Saudi Arabia failed to agree to further oil production cuts over the weekend.

He says Saudi Arabia cut its’ oil prices and pledged a hike in products in retaliation.

“The world is already saturated in oil due to a demand drop cause by the Corona virus,” says McTeague.

Sylvie Lendvay reports.