The price of gas is on the move again this week in Metro Vancouver, this time in the right direction.
A number of industry analysts predict a significant drop at the pump by Wednesday.
“The Vancouver wholesale price of gas dropped by 19.1 cents per litre today, which means pump prices should fall tomorrow by 18 to 20 cents per litre,” Roger McKnight, senior petroleum analyst at En-Pro International, told CityNews.
That would put a litre of regular at about $1.85 per litre across Metro Vancouver.
The head of petroleum analysis at GasBuddy.com agrees that Lower Mainland prices are on the way down, as southern California refinery issues are resolved, and will eventually settle even lower in the weeks ahead.
“Vancouver should quickly see prices fall back below $2, and once all refinery snags are addressed and maintenance complete, I would not be surprised to see prices even fall below $1.65 there later this fall.”
Refinery outages in Southern California — both planned and unplanned — forced the price of gas upward for the West Coast of the U.S. and Canada.
In Metro Vancouver, a litre of regular rose to $2.149 last week, while in Southern California the price in some cities hit $6.49 USD per gallon Monday, which is the equivalent of $2.33 cents per litre.
Those sky-high prices have prompted California governor Gavin Newsom to step in, penning a letter to the state’s energy commission to request an early transition to winter-blend gasoline to help increase fuel supply.
As those refineries come back online and the West Coast supply crunch begins to ease, gas prices in California, Oregon, Washington, and British Columbia are dropping.
“While the trend is likely to be a strong one to the downside, small issues here and there could temporarily delay the onset of lower prices, but for now, motorists need not be in any rush: lower gas prices are on the way for every province in the weeks ahead,” added De Haan.
source & photo : CityNews
