'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
Canada to launch 'national action plan' to fight auto theft
The federal government is launching what it calls its 'national action plan' to combat auto thefts, which will include stronger penalties for thieves, and increased information sharing between police agencies, government officials and border enforcement.
U.S. Supreme Court rejects appeal from former Guantanamo detainee Omar Khadr
The U.S. Supreme Court on Monday rejected an appeal by a Canadian-born former Guantanamo detainee who was seeking to wipe away his war crimes convictions, including for killing a U.S. soldier in Afghanistan.
Iran's president and foreign minister die in helicopter crash at moment of high tensions in Mideast
Iranian President Ebrahim Raisi and the country's foreign minister were found dead Monday hours after their helicopter crashed in fog, leaving the Islamic Republic without two key leaders as extraordinary tensions grip the wider Middle East.
Jury finds Andrei Donet guilty of second-degree murder in stabbing death of Montreal teen
A jury has found a 21-year-old man guilty of second-degree murder in the stabbing death of Montreal teenager Jannai Dopwell-Bailey outside his school in 2021.
What is BORG drinking, and why is it a dangerous trend? An expert explains
If you've been to a party lately and haven't seen someone drinking a BORG, you're likely not partying with college students.
Michael Cohen says he stole from Trump's company as defense presses key hush money trial witness
Former Donald Trump attorney Michael Cohen admitted Monday to jurors in the Republican's hush money trial that he stole tens of thousands of dollars from Trump's company as defence lawyers seized on the star witness' misdeeds to attack his credibility.
The world's best airline is paying staff a bonus of 8 months' salary
Singapore Airlines will reward its employees with a bonus worth nearly eight months of salary, a person familiar with the matter told CNN on Friday.
Woman, 35, in critical condition after her truck collided with a Via Rail train near Montreal
A 35-year-old woman is in critical condition after the pick-up truck she was driving was struck by a Via Rail passenger train Monday morning in Quebec's Monteregie region.
Investors watching posts from 'Crypto King' in the wake of fraud, money laundering charges
Former investors of the self-styled “Crypto King” say they are watching his social media accounts and worried his displays of wealth are signs he’s spending their money, even now, as another large expense tied to Aiden Pleterski has triggered a previously unreported lawsuit.