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
BREAKING Iran fires at apparent Israeli attack drones near Isfahan air base and nuclear site
An apparent Israeli drone attack on Iran saw troops fire air defences at a major air base and a nuclear site early Friday morning near the central city of Isfahan, an assault coming in retaliation for Tehran's unprecedented drone-and-missile assault on the country.
NEW After hearing thousands of last words, this hospital chaplain has advice for the living
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Ontario woman loses $15,000 to fake Walmart job scam
A woman who recently moved to Canada from India was searching for a job when she got caught in an online job scam and lost $15,000.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Ottawa to force banks to call carbon rebate a carbon rebate in direct deposits
Canadian banks that refuse to identify the carbon rebate by name when doing direct deposits are forcing the government to change the law to make them do it, says Environment Minister Steven Guilbeault.
DEVELOPING G7 warns of new sanctions against Iran as world reacts to apparent Israeli drone attack
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
Some Canadian families will receive up to $620 per child today
More money will land in the pockets of some Canadian families on Friday for the latest Canada Child Benefit installment.