Gas prices across the Lower Mainland are on a steady decline, surpassing the national average drop. According to experts at GasBuddy.com, Vancouver has experienced a notable decrease of 2.4 cents per litre over the past week, exceeding the national average decrease of 2.1 cents per litre.
Comparing the current prices to a year ago, Vancouver’s gas prices are now 33.1 cents per litre lower and 21.8 cents per litre lower compared to a month ago. This downward trend in prices is part of a larger national pattern, with the average cost of gas in Canada falling for the fourth consecutive week, marking some of the most affordable seasonal prices since 2020.
Patrick De Haan, the Head of petroleum analysis, attributes the continuous decline in gas prices to the combination of increased oil production in the U.S., Canada, and OPEC+, along with stable refinery output at high levels. De Haan predicts that these factors will continue to put pressure on gas prices in the coming weeks. Notably, several gas stations in Alberta have already dropped below the $1-per-litre mark, underscoring the relief consumers are experiencing across the country.
As of Sunday, gas prices in Vancouver were averaging at 137.91 cents per litre, reaching 124.49 cents per litre in Abbotsford, while the provincial average fell to 135.2 cents per litre. By Monday morning, some gas prices in Vancouver had dipped as low as $1.30 per litre.
Gas Price Trends Mainland
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