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.
“(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.
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.