Drivers in Metro Vancouver may be kicking themselves for not filling up their gas tanks on Wednesday as prices increased overnight.
On Thursday morning prices are hovering around $184.9 per litre — roughly a ten-cent jump.
Gas expert Dan McTeague said several factors are playing a role in the rollercoaster ride of pricing.
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“(It is) volatility in the extreme … you do not have a market that obeys economics 101 – supply and demand (and) if it were to do so, prices for gasoline would be somewhat more stable,” he said.
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McTeague credits the gas price volatility to the ongoing conflict in the Israel region, annual refinery maintenance, and U.S. interest rates.
The up-and-down pricing has become the “new normal” around this time of year, McTeague said.
However, the increase won’t be for long as the gas expert predicts an eight-cent drop for Friday.
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