Gas prices to drop again in Metro Vancouver, expert says

Gas prices continued to fall across the Metro Vancouver region, as the price at the pump fell almost 10 cents per litre last week.

Gas price app GasBuddy says the average gas price in Vancouver dropped 9.3 cents per litre to an average of $1.854 per litre of regular gas Sunday.

Comparatively, the national price of gas only fell 3.7 cents per litre to an average price of $1.671 per litre of regular gas.

Related Articles:

• Bank of Canada expected to raise interest rates on Wednesday as recession fears grow

• BC Ferries increasing fuel surcharge

• More drivers in Lower Mainland report flat tires

“Average gas prices have declined for the second straight week with significant declines in the West and the Prairies having an oversized effect on the drop in the national average,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.

“With oil prices struggling a bit after reaching $93 after OPEC+’s decision to cut production, many regions could see falling gas prices again this week as demand continues to decline seasonally, especially if more data points to a significant economic slowdown. While gasoline prices have seen a large drop, diesel prices have been somewhat mixed, with prices heading higher in the East as inventories drop to extremely tight levels ahead of the heating oil season.”

This time last year, gas in the region was about 24 cents cheaper for a litre of regular, however this time last month, prices were about 33 cents more expensive.

Gas in Abbotsford is averaging about $1.873 per litre, in Victoria, it’s about $1.94 per litre, and in Vancouver, as of Monday morning, it is averaging $1.885 per litre.