Metro Vancouver gas prices jump as oil prices hit highest level since July

You’ll be paying more at the pump this week after gas prices across Metro Vancouver jumped by more than six cents per litre.

According to GasBuddy.com, the average price for a litre of regular gas was $1.81 on Sunday.

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Prices on Sunday were 16.3 c/L higher than the same day last year, and more than 13 c/L higher than just one month ago.

“Gas prices have continued to climb across most of Canada, with oil prices last week reaching their highest level since July. Diesel prices have also jumped, driven by cold weather that has boosted heating oil demand,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“In addition, with President Trump’s inauguration tomorrow, there could be price impacts depending on the executive orders he is preparing to sign. We’ll be closely monitoring potential impacts from any orders, while the threat of tariffs and possible Canadian retribution remain top of mind. However, the current increase is not yet the traditional seasonal rise, which is also likely to push prices higher and could begin in a few weeks.”

Meanwhile, the national average for a litre of regular gas increased more than two cents last week, coming in at $1.54 c/L.

On Sunday, the average gas price in Abbotsford was $1.68 c/L, with gas coming in at $1.79 c/L in Victoria.

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