Vancouver gas prices hit record high for 2nd day in a row
Another day, another North American gas price record set in Metro Vancouver.
As experts predicted Thursday – when gas prices in the Lower Mainland and Greater Victoria soared to 239.9 cents per litre – the price went up again on Friday.
Some stations in Vancouver were advertising a litre of regular for 241.9 cents on Friday, the second consecutive day that the region has set an all-time record.
The latest surge in the cost of gas has been blamed on local factors in the Pacific Northwest – specifically maintenance on a major refinery and pipeline. Prices elsewhere in Canada have not been spiking.
“It is driven only by local factors here on the West Coast and generally in North America. It has nothing to do with international oil markets this time,” said Werner Antweiler, an economics professor at UBC's Sauder School of Business, on Thursday.
Antweiler described the current spike – which has seen prices rise from less than $2 per litre to their current levels in just over a week – as "completely unheard of."
"I've never seen a price spike happen that quickly," he said.
According to the gas price prediction website Gas Wizard, drivers in Toronto were paying 156.9 per litre on Friday. In Montreal, the price was 172.9, and in Calgary it was 165.9. https://gaswizard.ca/price-history/
Relief is likely on the way, however. Analysts say they expect to see a 20-cent price drop within the next two weeks.
CTVNews.ca Top Stories
Canadian family stuck in Lebanon anxiously awaits flight options amid Israeli strikes
A Canadian man who is trapped in Lebanon with his family says they are anxiously waiting for seats on a flight out of the country, as a barrage of Israeli airstrikes continues.
Suspect in shooting of Toronto cop was out on bail
A 21-year-old man who was charged with attempted murder in the shooting of a Toronto police officer this week was out on bail at the time of the alleged offence, court documents obtained by CTV News Toronto show.
Scientists looked at images from space to see how fast Antarctica is turning green. Here's what they found
Parts of icy Antarctica are turning green with plant life at an alarming rate as the region is gripped by extreme heat events, according to new research, sparking concerns about the changing landscape on this vast continent.
DEVELOPING 2 dead after fire rips through historic building in Old Montreal
At least two people are dead and others are injured after a fire ripped through a century-old building near Montreal's City Hall, sources told Noovo Info.
Yazidi woman captured by ISIS rescued in Gaza after more than a decade in captivity
A 21-year-old Yazidi woman has been rescued from Gaza where she had been held captive by Hamas for years after being trafficked by ISIS.
A 6-year-old girl was kidnapped in Arkansas in 1995. Almost 30 years later, a suspect was identified
Nearly 30 years after a six-year-old girl disappeared in Western Arkansas, authorities have identified a suspect in her abduction through DNA evidence.
Dolphins 'smile' at each other when they play and to avoid misunderstanding, study finds
For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other.
Pit bulls in B.C. pet mauling tested positive for meth, cocaine, says city
Three pit bulls involved in a deadly attack on another dog last month in Kamloops, B.C., tested positive for methamphetamine and cocaine, and the city is going to court to have them put down.
Tax rebate: Canadians with low to modest incomes to receive payment on Friday
Canadians who are eligible for a GST/HST tax credit can expect their final payment of the year on Friday.