Metro Vancouver gas prices dip below $2 for first time in months
Posted July 8, 2022 11:58 am.
It’s something many drivers around Metro Vancouver haven’t seen in some time: Gas prices dipped to under $2 for a litre of regular Friday, after months of record highs.
Some stations were posting prices of $1.97 to wrap up the work week, providing some relief to drivers who have been paying some of the highest prices at the pump across Canada.
According to GasBuddy, which tracks gas prices across Canada and the U.S., the average price for a litre of regular across Metro Vancouver Friday morning was hovering around the $1.99 mark.
Metro Vancouver drivers, rejoice! Gas prices are under $2.00 per litre for the first time in a long time at some locations. @CityNewsVAN @CityNewsTraffic pic.twitter.com/J3gbWYGgbV
— Chad Harris (@ChadHarrisTV) July 8, 2022
Metro Vancouver drivers pay some of the highest fuel taxes in the country.
Previously, an industry insider told CityNews predictions were that gas prices could drop roughly 10 cents by the end of the week – the first significant drop drivers have seen in a while.
Another drop in prices could also come in the fall, should the country plunge into a recession, Paul Pasco, a gas analyst with Kalibrate, added.
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Meanwhile, the push for B.C. to suspend its gas tax continues, with the Greater Langley Chamber of Commerce joining those calls this week.
“We are not suggesting this is the only solution and it’s not a permanent solution, but we think consumers and businesses really need a break,” said CEO Cory Redekop, who told CityNews Wednesday no one thought prices would stay over $2 for so long.
B.C. announced earlier this year that it was rolling out gas rebate cheques through ICBC, however, many drivers are still waiting for their money. The public insurer has said it hopes to have all 3.5 million rebates out to British Columbians by the end of this month.
