Gas prices up across Lower Mainland
Posted January 29, 2024 6:56 am.
Last Updated January 29, 2024 4:05 pm.
Drivers better enjoy gassing up their vehicles Monday, as prices at the pump across the Lower Mainland are on their way up, experts say.
The price of a regular litre of gas went up on Friday around the region and remained in the mid-$1.70s through the weekend.
Listen to CityNews 1130 LIVE now!GasBuddy.com believes prices will continue ticking upward as we enter February, and prices will stay that way until the spring.
Analyst Patrick De Haan explains drivers will see gas prices going up “every couple of weeks” until May long weekend.
“That’s the time of year that we generally see prices peak,” he told CityNews Monday.
He blames things like refinery maintenance and the switch to summer-blend gasoline.
De Haan explains that February will see the biggest jumps.
“[That’s when] we’re expecting some of these price increases to ramp up. On average, the average gasoline price across Canada could rise 20 to 35 cents a litre between now and late May.”
But don’t expect that a 35 cent increase could be the max for the Lower Mainland, De Haan explains.
“It certainly could be a little bit more. The West Coast, like Vancouver, sees a bit more pricing volatility. So it is possible that Vancouver could go beyond that,” he said.
But De Haan explains prices at the pump Monday are about 10 cents a litre lower than the same time last year.
“So, there’s a little bit of optimism here that we won’t see quite as much pain at the pump this year compared to last,” he said.
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–With files from Mike Lloyd
