Local gas slides to 90 cents

A nice break at the pumps this morning for Hamilton motorists.

Prices dropped almost 3 cents a litre overnight, bringing many stations in the Hamilton and Halton area down to to 90.1

Some stations up Highway 6 are pegged as low as 89.6.

A year ago we were paying $1.31

Analysts say the price cut comes on the heels of jittery oil prices as the markets worry about how long the recession can last.

Oil prices rose above US$61 in Asia today, recouping some losses after tumbling 17 per cent since last week as rising U.S. gasoline inventories suggested crude demand remains weak.

Traders predicted oil prices would resume their slide.