Gas prices in Waterloo Region are now the lowest they have been all this year.
The price dropped by 2 cents per litre overnight. Gas is now selling for around $1.39/litre at most local stations.
It marks the first time this year that gas has dropped below the $1.40/litre mark in southern Ontario, reaching the lowest price since December of last year.
The cost of gas has been trending down in recent weeks and is in correlation to the falling price of oil.
Oil prices also reached a yearly low on Wednesday morning and many experts are predicting that price will continue to fall in the short-term, meaning drivers could be looking at even more of a discount at the pumps in the coming days.
According to En-Pro International, prices will drop again by 3 cents per litre on Friday.
