Gas prices drop below $2 in Metro Vancouver
Posted October 13, 2022 6:55 am.
Last Updated October 16, 2022 11:04 pm.
It’s a sight for sore eyes — some of Metro Vancouver’s gas pumps dropped to below $2 per litre for regular gas overnight.
Bringing relief to the back pocket of some drivers, some stations around the region are now charging $1.929 per litre.
Finally positive news regarding #GasPrices in #MetroVancouver. It’s dropped overnight in the region, I spotted it at $1.929 per litre for regular fuel along 1st Ave at Rupert St #Vancouver #GasTracker @CityNewsVAN pic.twitter.com/GcFaXdff4b
— Ryan Lidemark (@RyanLmark) October 13, 2022
This comes as Metro Vancouver hit a record high in North America just last week, as some gas stations charged $2.419 for a litre of regular at the pumps.
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Kalibrate principal consultant Paul Pasco, an industry insider, says prices could continue to fall through the weekend.
“Refinery outages that we’ve been talking about for the last two months that have kept prices higher on the west coast have finally started to come back on,” he told CityNews Wednesday. “Now we’re seeing the price benefit.”
Pasco says prices will likely decrease by another five-to-10 cents by the weekend.
“The west coast is now falling back to where it should have been relative to the rest of Canada,” he said.
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Refineries in California and Washington state have begun ramping up production, which is the main driver behind the drop in gas prices, Pasco says.
“Hopefully, we won’t be going back over $2 for the immediate future,” he said.
The last time Metro Vancouver saw gas below $2 per litre for regular was nearly a month ago.
As of Thursday morning, GasBuddy recorded Vancouver’s average gas price at just under $2.32 per litre of regular.
-With files from Sonia Aslam
