Metro Vancouver gas prices drop, giving relief to drivers amid record highs

Drivers in Metro Vancouver got a bit of a break at the pump Friday morning.

Gas prices dropped for the first time in several days to just below $2 for a litre of regular. The drop was forecast by some analysts, who said the region could see prices dip as much as 14 cents for each litre heading into the weekend.

Gas has been at records for over a week in Metro Vancouver, rising as high as $2.149 in some parts.

While $1.99 is still expensive — and higher than other parts of Canada are seeing — many drivers CityNews has spoken with say they’re still choosing to get behind the wheel.

Well, would you look at that. #GasPrices #CheapGas? ⁦@CityNewsVAN⁩ ⁦@CityNewsTraffic⁩ pic.twitter.com/NjLFKnfqBI

— Dean Recksiedler (@RecksiedlerDean) March 11, 2022

“I live in the village so I can take public transport wherever I go, so that does help,” said one person. “But no, we’re not really changing our plans because we’re down to one car and we can’t, we need it.”

Others note challenges with taking transit versus driving, saying they’re still going to opt for their car even if it hits the wallet harder.

While gas prices have dropped as of Friday, we can expect some more good news through the weekend, according to some experts.

Analysts at En-Pro International say the price at the pump could fall another five cents per litre in the coming days.

Drops in prices have been recorded across the country. In the Greater Toronto Area, gas prices fell about 15 cents at most stations to an average $1.759/litre, with another six-cent decline expected this weekend.

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The Russia-Ukraine crisis, demand, and the pandemic have all contributed to rising prices in recent weeks.

While many Canadians have endured a hit to their wallets, the pain appears to be even higher in Metro Vancouver, where drivers pay more in gas taxes. Compared to virtually every other region of B.C., locals pay an additional 18.5 cents per litre, which goes to TransLink to help pay for local transit.

Including the TransLink levy, Metro Vancouver motorists pay a total 73 cents tax on every litre of gas. Of that, 10 cents per litre is due to the carbon tax, which is set to go up to 11 cents in April.