Gas prices have hovered around $1.50 since February in Metro Vancouver. What’s more, experts don’t see them getting any lower.
In fact, industry experts are expecting them to pass the record high of $1.557 by the end of this week.
Over the weekend average prices teetered around $1.53 per litre, which was well above the rest of the province.
Gas price in North Vancouver today –
$1.54 per litre
Gas price in Merritt today –
$1.21 per litre
Because one refinery? Or because gas prices need to match housing prices…#gasgouge— Kim Kuhn (@kimkuhn558) March 18, 2018
At this time last year, the average price for a litre of gas was roughly 22 cents lower than today.
The previous record of $1.557 was set in June 2014. Back then, the price of oil was trading at over $100 per barrel.
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Gas Prices Could Soar to $1.60 Per Litre
While prices may exceed the province’s record this week, experts worry that they’ll continue to rise.
In fact, some are predicting that they’ll soar above $1.60 sometime in April. That’s when BC’s carbon tax sets in, and more expensive gas blends are introduced.
In addition, Alberta recently threatened to block the shipment of oil to BC if John Horgan takes extreme measures to prevent the Trans Mountain pipeline.
If that happens, Metro Vancouver’s prices could stagger past $2 per litre.
