After a double-digit dip at the pumps earlier in the week, yet another drop is expected ahead of the weekend in Waterloo Region.
According to Canadians for Affordable Energy, the price for regular gasoline is expected to drop by as much as 8 cents on Friday, hitting an average high of $1.60.9 per litre.
It comes after prices already dropped earlier in the week, on Wednesday, when prices shifted from $1.78.9 per litre down to $1.67.9 per litre, before climbing 1 cent the next day.
The downward trend now marks a drop of 18 cents per litre in the span of three days, and a 31-cent drop since the beginning of October, when prices sat at $1.91.9 on Oct. 3.
The latest projected drop would make gas prices in Waterloo Region the lowest they’ve been since Aug. 7, when prices dropped to as low as $1.58.9 per litre.
RELATED: Gas prices drop 11 cents, lowest since August for Waterloo Region: expert
It comes amidst continuing turbulent times at the pumps across the region and throughout the country as a whole, due in part to global tensions around the Strait of Hormuz and the ongoing war between the U.S. and Israel against Iran.
While motorists are expected to breathe a sigh of relief ahead of the weekend, those who rely on diesel will also share in the downward trend, with prices expected to drop by as much as 15 cents overnight.
That would put the average high for diesel prices at $2.34.9 per litre, amidst some more aggressive fluctuations in recent months, reaching a high of $2.67.9 per litre back on Sept. 18, and a low of $2.08.9 per litre on Aug. 8.
Again, while residents throughout the region should enjoy and make the most of the decline in gas prices, it should be noted that the ongoing hostility in the markets means the dip in prices won’t last for long.
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