Starting on Wednesday, there will be an even cheaper way to Uber around the city. That's because the American-based company is adding UberPool to its roster of services available in Toronto.

As its name suggests, UberPool allows riders to carpool by matching them with others who are traveling along the same route at the same time. Fixed fares,according to an Uber news release, are 30 per cent less than UberX.

Along with providing a cheaper option for users, Uber claims this service should help to decrease congestion by reducing the number of cars on the road. UberPool initially launched in San Francisco in 2014.

Last week, Uber expanded its fleet of wheelchair accessible vehicles with UberWAV. It launched its public transit alternative UberHop back in December along with its standalone UberEats food delivery app.

A city report on the possibility of regulating Uber's services in Toronto is due later this year.

Will you try UberPool? Let us know in the comments.