'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
DEVELOPING 122 active wildfires burning across Canada, 32 considered 'out of control'
The 2024 wildfire season has begun, and it's shaping up to follow last year's unprecedented destruction in kind, with thousands of square kilometres already consumed.
B.C. parents sentenced to 15 years for death of 6-year-old boy
A British Columbia Supreme Court judge has sentenced the mother and stepfather of a six-year-old boy who died from blunt-force trauma in 2018 to 15 years in prison.
Veteran TSN sportscaster Darren Dutchyshen has died
Veteran TSN broadcaster Darren 'Dutch' Dutchyshen, one of Canada’s best-known sports journalists, has died. He was 57. His family says 'he passed as he was surrounded by his closest loved ones.'
Miller scores late as Canucks grind out 3-2 win over Oilers in Game 5
J.T. Miller scored in the final minute of the game and the Vancouver Canucks came back for a 3-2 victory over the Edmonton Oilers in Game 5 of their second-round playoff series Thursday.
Think twice before sharing 'heartbreaking' social media posts, RCMP warn
Mounties in B.C. are urging people to think twice before sharing "heartbreaking posts" on social media.
Police issue Canada-wide warrant for Regina homicide suspect
Police have issued a Canada-wide warrant for a man wanted in a homicide which occurred in Regina on May 12.
Trudeau calls New Brunswick's Conservative government a 'disgrace' on women's rights
Prime Minister Justin Trudeau assailed New Brunswick's premier and other conservative leaders on Thursday, calling out the provincial government's position on abortion, LGBTQ youth and climate change.
Kevin Spacey receives star support as he fights to get his career back
Kevin Spacey is pushing back on the 'rush to judgment' against him and is being backed by some big names as he seeks to reclaim his acting career.
Speaker cuts ties with Sask. Party, alleges he faced threats, harassment from gov't MLAs
The Speaker of the Saskatchewan Legislature Randy Weekes has severed ties with the Sask. Party after accusing some members of harassment and intimidation tactics, including a situation he claimed saw the Government House Leader bring a hunting rifle to the legislative building.