If residents around Waterloo Region are thinking about filling up their gas tank at the pumps, it’s recommended to hold off, as projections are showing possible double-digit drops for gasoline and diesel for Wednesday.
The information comes from Canadians for Affordable Energy, which projects an 11-cent drop for gas prices, dropping to an average high of 164.9 cent(s) per litre.
For anyone relying on diesel, there’s good news as well, with projections showing a possible 20-cent dip, declining to an average high of 216.9 cent(s) per litre.
While it’s good news in the short term, economists and experts still expect those prices to continue climbing, potentially hitting as high as $2 per litre in the near future.
It comes as tensions in the Middle East continue, which experts say is directly causing turbulence at the pumps across Canada.
They say it’s primarily due to delays following the closure of the Strait of Hormuz, which has bottlenecked much of the world’s oil supply.
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