'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
Live updates: What star witness in Trump hush money case has said on the stand so far
The star prosecution witness in Donald Trump's hush money trial is set to take the stand Monday with testimony that could help shape the outcome of the first criminal case against an American president.
Police release 3D images of young child found in an Ontario river two years ago
Police have released a three-dimensional image of a young child whose remains were discovered in the Grand River in Dunnville, Ont. almost two years ago.
Steve Buscemi punched in the face while walking in N.Y.C.
Hollywood actor Steve Buscemi has been treated for injuries after being punched in the face while walking in New York City.
'Be very, very careful': Wildfire conditions 'still extreme,' says Alberta fire chief
As wildfire conditions remain 'extreme' in northern Alberta, residents are being urged to be extra cautious and follow a fire ban.
Air quality advisories issued in 5 provinces, 1 territory
Air quality advisories are in effect across Western Canada as smoky conditions plague some areas, according to the latest forecasts. Here's where.
Canucks' Zadorov fined $5,000 for post-game crosscheck on Oilers' McDavid
A Vancouver Canucks defenceman has been given the highest possible fine under the NHL's collective bargaining agreement after a scrum broke out at the end of Game 3 against the Edmonton Oilers Sunday night.
Jerry Seinfeld speech prompts pro-Palestinian demonstration at U.S. university graduation ceremony
A tiny contingent of Duke University graduates opposed pro-Israel comedian Jerry Seinfeld speaking at their commencement in North Carolina Sunday, with about 30 of the 7,000 students leaving their seats and chanting "free Palestine" amid a mix of boos and cheers.
Just how bad are ultraprocessed foods? Here are 5 things to know
Many foods fall under the category of ultraprocessed foods, depending on their exact ingredients. This type of food has been studied a lot lately, and the results aren’t great.
Irving Oil former president dies at age 93
Arthur L. Irving, chairman emeritus and former president of Irving Oil, has died at the age of 93.