'Unlike any year in the past': Metro Vancouver gas prices expected to rise in the fall
It appears Metro Vancouver’s expensive summer driving season will be extended this year.
Some petroleum analysts are predicting that gas prices will increase this fall, the opposite of what drivers typically see.
Dan McTeague of GazWizard.com says the region could soon see another 10 cent per litre increase.
That would bring prices to around $2.10 or $2.15 per litre in the coming months.
“Supply and demand is starting to take a much larger area of concern for energy traders,” said McTeague, who is also the president of Canadians for Affordable Energy.
“Because of that, we're seeing oil moving up one dollar a barrel, 90 cents a barrel every day. And with it, we're likely to see yet more increases even into the fall, when we switch from summer blends of gasoline—which are more expensive to make for refineries—to winter blends,” McTeague told CTV News.
The weakening Canadian dollar is also fueling high prices.
“Unlike any other year in the past—where we see prices dip after Labour Day long weekend, and then towards the end of September—here in Vancouver, the Lower Mainland, we're likely to see prices remain the same, best case scenario, or go ahead—perhaps as much as five to 10 cents a litre,” said McTeague.
Metro Vancouver is home to the most expensive fuel in North America.
McTeague says that’s because drivers here pay about 80 cents per litre in various taxes.
The region is also heavily reliant on the U.S. for supply.
Experts are not predicting the Lower Mainland will break its all time high of 241.9 cents per litre, set last September.
Drivers who are hoping to save money by delaying a road trip until the fall are encouraged to rethink their plans.
Industry insiders predict the higher than seasonal prices could last through to November.
CTVNews.ca Top Stories
Parliamentary report on Emergencies Act decision is 18 months past due — and counting
The erstwhile group of senators and MPs studying the federal government's invocation of the Emergencies Act over the "Freedom Convoy" was supposed to present its findings in December. December of 2022, that is.
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
The kids from 'Mrs. Doubtfire are all SUPER grown up now, and we're not OK
The adorable trio of child actors from the 1993 classic comedy 'Mrs. Doubtfire,' which starred the late and great Robin Williams, are all grown up and looking back on their seminal time together.
Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Black youth face multiple barriers in accessing mental health care, experts say
Black youth in Canada face multiple barriers in getting access to mental health services — and health-care providers can make the situation more difficult, experts say.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Golf season a summer tourism driver in Canada
Golf is a sign of spring and summer and a major driver for seasonal tourism, experts say.
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.