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
Indian envoy warns of 'big red line,' days after charges laid in Nijjar case
India's envoy to Canada insists relations between the two countries are positive overall, despite what he describes as 'a lot of noise.'
Former homicide detective explains how police will investigate shooting outside Drake's Bridle Path mansion
Footage from dozens of security cameras in the area of Drake’s Bridle Path mansion could be the key to identifying the suspect responsible for shooting and seriously injuring a security guard outside the rapper’s sprawling home early Tuesday morning, a former Toronto homicide detective says.
Stormy Daniels describes meeting Trump during occasionally graphic testimony in hush money trial
With Donald Trump sitting just feet away, Stormy Daniels testified Tuesday at the former president's hush money trial about a sexual encounter the porn actor says they had in 2006 that resulted in her being paid to keep silent during the presidential race 10 years later.
Alcohol believed to be a factor in boating incident after 2 men die: N.S. RCMP
Two Nova Scotia men are dead after a boat they were travelling in sank in the Annapolis River in Granville Centre, N.S., on Monday.
Northern Ont. woman makes 'eggstraordinary' find
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
Susan Buckner, who played spirited cheerleader Patty Simcox in 'Grease,' dead at 72
Susan Buckner, best known for playing peppy Rydell High School cheerleader Patty Simcox in the 1978 classic movie musical 'Grease,' has died. She was 72.
Jeremy Skibicki has 'uphill battle' to prove he's not criminally responsible in Winnipeg killings: legal analysts
Accused killer Jeremy Skibicki could have a challenging time convincing a judge that he is not criminally responsible for the deaths of four Indigenous women, a legal analyst says.
Bye-bye bag fee: Calgary repeals single-use bylaw
A Calgary bylaw requiring businesses to charge a minimum bag fee and only provide single-use items when requested has officially been tossed.
CFL suspends Argos QB Chad Kelly at least nine games following investigation
The CFL suspended Toronto Argonauts quarterback Chad Kelly for at least nine regular-season games Tuesday following its investigation into a lawsuit filed by a former strength-and-conditioning coach against both the player and club.