It appears Apple has dropped the prices for iTunes movie rentals on most library titles to $4.99 in Canada. Previously, movie rentals were priced at $5.99 but over the long weekend users noticed price drops on titles available on Apple TV and iOS devices. As of today, most rentals within iTunes reflect a $4.99 charge, which makes it on par or cheaper than brick and mortar movie rental retailers (if those still exist today).

Below, the same movie on the iPhone is also $4.99, but as you can see some newer release titles are still $5.99 (so is Fast Five: Extended Edition; BOOM!):

Let us know if you’ve jumped on these cheaper $4.99 iTunes movie rentals.

Thanks Terry!