Looking for relief? Here's what experts predict for Vancouver gas prices this week, summer months
Gas prices in Metro Vancouver are expected to remain at or near record-breaking levels in the coming days, after reaching a new all-time high over the weekend.
The price of gas rose to 233.9 cents per litre at some stations Sunday, breaking a record for the second day in the row. On Saturday, the price was about six cents lower, but still a record high at the time.
According to Gas Wizard, a Canadian gas-price prediction site, prices could stay at 233.9 on Monday and Tuesday. A heat map on GasBuddy suggested the Greater Vancouver region had the highest prices in the country Monday, averaging at 230 cents per litre.
The record-high prices seen in Vancouver and across the country have largely been blamed on Russia's invasion of Ukraine, though other factors – including inflation, refinery capacity, and a recent increase in carbon taxes – have also contributed.
"It’s very much a sign of where I think we're going to be at least for the foreseeable future, as we head into the summer driving season, which, for all intents and purposes, hasn't really begun," Dan McTeague, a gas price analyst, told CTV News Vancouver over the weekend.
McTeague said Metro Vancouver could see prices reach 250 cents per litre this summer.
The B.C. government is aiming to give some relief from the high prices in the form of a $110 rebate for most ICBC customers. Some residents will see their rebate arrive by direct deposit this month, others will receive a cheque in June.
But the BC Liberals have condemned the NDP's approach, arguing that more can be done to provide relief to drivers.
They propose temporarily freezing the provincial gas taxes and providing a one-time rebate through the Climate Action Tax Credit, which would be issued July 5. They're also calling for a suspension of a 25-cent so-called "hidden import" tax on gas brought to B.C. from Alberta.
"People are really struggling right now. They need help," said Peter Milobar, the Liberals' critic for finance. "They don't need more empty words from the premier."
With files from CTV News Vancouver's Ian Holliday
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