Metro Vancouver gas prices jump almost 12 c/L in last week

You might be in for a bit of sticker shock if you have to gas up on Monday morning in Metro Vancouver.

After the price dropped to as low as $1.54 for a litre of regular gasoline earlier this month, it jumped to almost $1.80 per litre Monday.

Experts at GasBuddy.com say the conflict in the Middle East and another hurricane bearing down on the U.S. are at least partially to blame.

“The national average price of gasoline saw a slight rise in the last week, thanks to Iran’s attack on Israel, leading oil prices to surge to the highest level in months,” said Patrick De Haan, head of petroleum analysis.

“In addition to the escalation in the Middle East, hurricane season remains active, with Hurricane Milton now heading toward the United States. For now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but I remain hopeful that a sub-135c/L national average remains possible this fall.”

According to GasBuddy, prices in Vancouver rose 11.9 c/L in the last week, for an average of $1.739 per litre of regular gas on Sunday. Meanwhile, the national average for gasoline sits at $1.485 per litre of regular gas — an increase of 1.8 c/L over the same period of time.

While prices on Oct. 7 last year were pretty similar to Monday’s value, in 2022, a litre of regular gas was fetching $2.397, and $1.205 back in 2020, according to GasBuddy.