Metro Vancouver Gas Prices To Hit An All-Time High Tomorrow

Vancouver Gas Prices

Metro Vancouver gas prices will hit an all-time high tomorrow.

According to analyst Dan McTeague, local gas stations will see a new record of 164.9 cents a litre on Friday.

RELATED: ICBC Basic Insurance Rates Hike Now In Effect

The previous all-time high? 163.9 cents per litre, which was set back in October of last year.

The sharp increase in gas prices can be attributed to gas bars hiking their retail margin by an extra 2 cents and a price hike for the provincial carbon tax that took effect April 1st.

As a result, the carbon tax price hike adds 1.14 cents a litre increase for British Columbians when they fill up their vehicles.  What this means is that the carbon tax is increasing from $35 per tonne of Co2 to $40 per tonne. In 2018, the first of four annual carbon tax increases took place.

Vancouver Gas Prices

There’s more bad news for drivers at the pump.

In a couple of weeks, gas stations will be switching over to summer-blend gasoline. This type of gasoline is approximately five cents a litre higher than the gasoline used during the winter months.

A quick search on GasBuddy shows that the cheapest gas price in Vancouver as of Thursday morning is 149.9.

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