Metro Vancouver gas prices predicted to jump 9 cents, surpass $2/L

Metro Vancouver drivers could be in for a shock at local gas stations Wednesday as prices are predicted to jump significantly.

According to price-prediction website Gas Wizard, the cost of regular gas in the region could increase by nine cents and rise above $2 per litre for the first time in weeks. The price has hovered at about 194.9 cents per litre for several days, but may get as high as 203.9 Wednesday. 

While average prices have gotten close to the 200-cent mark, they've generally stayed below since mid-July. B.C.'s prices last broke a record on June 6, reaching 236.9. 

Metro Vancouver's gas prices are typically among the highest in the country. But as of Tuesday, prices are believed to be slightly higher in the Northern Rockies Regional District, according to a heat map from GasBuddy.com. 

In Toronto, average prices were 145.9 Tuesday and in Calgary they were nine cents lower, according to Gas Wizard.

Earlier this year, when drivers were paying what was at the time a record-breaking 214.9 cents a litre, B.C. Premier John Horgan announced relief in the form of a one-time $110 rebate. Horgan announced other measures earlier this month to combat a rising cost of living, including a boost to the Climate Action Tax Credit and the B.C. Family Benefit. 

As well, the annual rent increase – which is normally tied to inflation – will be capped at a maximum two per cent for 2023. For a household paying $2,000 per month, that works out to a maximum hike of $40 per month. The province estimates this will represent a savings of up to $816 per year.

With files from CTV News Vancouver's Lisa Steacy