Metro Vancouver gas prices are set to take a huge plunge.
According to GasBuddy analyst Dan McTeague, prices are expected to drop six cents a litre on Thursday.
Drivers will notice a one cent hike at the pump on Wednesday, followed by the huge drop on Thursday.
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Gas Price 🚨 #Vancouver and the Lower Mainland to see a 1 cent hike @ the ⛽️ Wednesday, followed by a 6 CENT A LITRE DROP for Thursday- putting the highest prices at 138.9 cpl – the lowest since January 4
— Dan McTeague (@GasPriceWizard) November 14, 2018
This would put the highest prices at 138.9/litre, the lowest since January 4th, 2018.
McTeague also points out that places that don’t have the TransLink gas tax will see prices even below 138.9/litre.
So what’s causing this sudden price drop? It can largely be attributed to an oversupply of oil that currently exists.
The low gas prices are expected to be the case for at least a week.
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