Drivers in Metro Vancouver are in for a pleasant surprise as they fill up their tanks on Monday morning. Gas prices have seen a significant drop, with regular gas now averaging around $1.71 per litre across 427 stations, marking a decrease of 6.4 cents per litre from the previous week. In certain Vancouver stations, prices have even dipped below the $1.70 mark.
GasBuddy.com reports that the average price has actually gone up by over 8 cents per litre compared to the same day last month. Just last week, drivers were alarmed as prices shot up overnight, almost reaching $2 per litre for regular gas on Wednesday. Analysts at GasBuddy attributed this spike to scheduled maintenance and shutdowns at refineries in California, hinting at a possible trend of rising costs.
However, there is good news on the horizon. Patrick De Haan, head of petroleum analysis at GasBuddy, announced on Monday that conditions have shifted, leading to the current price drop. He also mentioned that more relief could be on the way as the transition to lower-cost winter gasoline is set to begin the following day. De Haan expressed optimism, stating that if oil prices remain stable and hurricane season stays calm, provinces might see further reductions at the pumps.
For British Columbia, in particular, there is hope for more significant relief as refinery operations improve and a major pipeline in Washington state resumes operations. Despite a national average price of $1.41 per litre in the past week, the focus is now on the potential for continued price drops, providing some respite for drivers across the region.