Metro Vancouver gas prices drop thanks to price of oil

Prices at the pump have dropped significantly going into Monday, with some gas stations around Metro Vancouver posting just over $1.90 for a litre of regular.

That’s down almost 15 cents per litre from Friday.

According to GasBuddy.com, the drop is being felt nationwide and is being driven by oil prices which took a downward turn last week.

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“After rising the prior week, the national average has changed directions again, posting a modest decline compared to last week with prices dropping in a majority of provinces. The decline has been partly driven by oil prices, which fell back under $90 per barrel last week, and an improvement in refining operations,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.

However, De Haan says future gas prices are looking unstable.

“With oil prices remaining volatile, the outlook is murky, but I’m hopeful in the next couple of weeks we’ll see prices declining in more provinces, while others may not be quite as lucky. Regardless, we’ll still be seeing the most expensive November prices on record.”

According to GasBuddy, prices on Sunday were 34.5 cents per litre more expensive than the same day in 2021, however, it’s more than 20 cents per litre lower than just one month ago.

Abbotsford’s average gas price is $1.87, Victoria’s average is $1.93, while the province’s average Monday is $1.90.