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Vancouver Gas Prices Are Set To Hit $1.75 a Litre By Wednesday

Vancouver Gas Prices

It looks like local motorists won’t be seeing relief at the pumps anytime soon. On Saturday, Metro Vancouver gas prices hit 172.9 cents a litre.

Not only is this a new record for British Columbia, but it’s also an all-time high for North America.

Unfortunately, prices are set to go even higher tomorrow.

According to Gasbuddy.com analyst Dan McTeague, local gas stations will see a new record of 175.0 cents a litre on Wednesday.

Just this month alone, record highs at local gas stations were set on Sunday, April 14th and Wednesday, April 17th, 2019.

Vancouver Gas Prices

The sharp increase in gas prices can be partially attributed to 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.

Furthermore, McTeague tweeted on Monday about the US oil embargo that is set to take effect on all Iranian oil next week.

So how bad will it get?

McTeague says that $1.75 a litre in Vancouver by Wednesday is “just the start”.

To find the cheapest gas prices across the region, motorists are encouraged to fill-up in the evening.


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