As Waterloo Region continues to press through the busy summer travel season, some good news may be right around the corner for residents who are preparing for a trip right around the corner or just need to fill up their car.
According to Canadians for Affordable Energy, gas prices in the region are expected to take a double-digit drop heading into Thursday, dipping an average high of $1.60.9 per litre.
It marks a sizeable decrease from what’s been seen as of late, as, in the month of July, regular gas reached as high as $1.83.9 per litre at times as summer began to ramp up.
Some relief is on the way for those who rely on diesel fuel as well, with prices forecast to fall by approximately 9 cents by the time the morning rolls around.
Those back-and-forth fluctuations have been driven in part by the ongoing hostilities in the Middle East, including the war between the United States and Israel against Iran, leading to a hostile market in various economic areas, including oil and gas prices.
As those conditions are expected to keep impacting prices throughout the already busy summer travel season, which can often bring along increased prices at the pumps on its own due to increased demand, those fluctuations are expected to continue.
While the gas price figures are estimates and predictions, they mark an opportunity for residents across Waterloo Region to save a few dollars compared with previous weeks as the calendar has shifted into August.
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