Regular gasoline prices in the Greater Toronto Area (GTA) are forecasted to decrease by 11 cents per litre on November 4, 2026, reaching 167.9 cents per litre. This marks the lowest price point since August 9, 2026. ([ca.headtopics.com](https://ca.headtopics.com/news/gas-and-diesel-prices-drop-to-two-month-low-in-greater-89474387?utm_source=openai)) (CA)
Analyst Dan McTeague attributes this decline to improved market sentiment regarding global shipping routes, particularly the Straits of Hormuz. Optimism over a potential deal to resume shipping in this critical passage has alleviated concerns about supply disruptions. ([ca.headtopics.com](https://ca.headtopics.com/news/gas-and-diesel-prices-drop-to-two-month-low-in-greater-89474387?utm_source=openai)) (CA)
Additionally, the U.S. Energy Information Administration (EIA) projects a 6% decrease in retail gasoline prices for 2026, aligning with the current downward trend. ([eia.gov](https://www.eia.gov/TodayinEnergy/detail.php?id=67024&utm_source=openai)) (EIA)
These factors collectively contribute to the anticipated reduction in gasoline prices across the GTA.