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Gas Prices in Metro Vancouver Will Fall This Summer

While gas prices typically increase during the summer, metro Vancouver drivers can expect to to shell out a little less money this year with pump prices expecting to take a dip as early as Thursday, July 7.

Experts are expecting pump prices will drop as much as .04 cents from the current rate of $1.26, with further deductions potentially looming.

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Dan McTeague, Gasbuddy.com senior petroleum analyst tells 604 Now that prices initially drove up a week earlier due to maintenance breakdowns in the United States resulting in lost production. Despite a higher demand for gasoline in the summer, the restart of the refinery in Anacortes will help prices dip .04 cents per litre with no indication of a price increase within the next couple of months.

McTeague adds that prices could dip a penny or two further, potentially bring prices down to $1.20 per litre. If so, the decreased price will be among the lowest metro Vancouver has seen in recent years. McTeague points out that the summer average in 2010 was $1.14, and the average in 2007 was about $0.98.

Regardless of the deduction, prices will remain $0.13 higher than pumps across the border.

Looking across the nation, Edmonton currently has the cheapest pump rates averaging about $.86 – $.88  primarily due to lower taxes and refineries in their backyard.

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