Gas prices are plummeting across most of Canada due to an "overreaction" of a new COVID-19 variant being discovered, according to an analyst.
Dan McTeague announced to his 24,000 Twitter followers that gas prices were set to drop by between 10 to 11 cents a litre across almost all of Canada.
Ontario and Quebec will notice the largest drop in prices, while Manitoba, Saskatchewan, Alberta and B.C will also see much cheaper gas prices.
Only Atlantic Canada is set to miss out on the price drop due to "price regulations".
According to McTeague, gas prices will drop from 145.9 cents a litre to 134.9 in Toronto, and 161.9 cents a litre to 151.9 in Vancouver.
In the graphic below, you can see the prices for (left to right) regular gas, premium gas and diesel.
In Calgary, gas prices plummet 10 cents a litre to 133.9 while fellow Alberta city Edmonton is even cheaper at 131.9 cents a litre.
Even some of Canada's most expensive areas for gas are dropping in price. Victoria, which was previously sitting at 155.9 cents a litre for regular gas, is dropping four cents a litre.
The drop in gas prices applies to both regular and premium gas and to diesel prices.
In an interview with CTV, McTeague said these gas prices are the lowest in three months and is "an overreaction" to a new COVID-19 variant called Omicron, and while Canada has not identified any cases yet, some countries have started to introduce new travel restrictions.
Last week, a handful of cases were reported in Africa. Canada has since introduced a ban on travel from certain countries.