Will gas prices in B.C. drop even lower?

WATCH: While gas prices are dropping across the province, the price of diesel remains stubbornly high. Ted Chernecki reports. 

VANCOUVER – There’s no denying it, it has been easier on the wallet to go to the pump these days. Oil is just under $60 a barrel and that is causing gas prices to drop.

Dan McTeague from GasBuddy.com says he thinks it will drop even lower than it is now.

“Not necessarily in downtown Vancouver,” he says, “but you could see it certainly in the outlying areas, where you don’t have as high a tax.”

“So think of Abbotsford for instance, the prices are already in the $1.05 to $1.04 range, it wouldn’t be hard to imagine, if there’s any further decrease in crude or gasoline, or if somebody wants to offer gas and is a loss leader, to see them touch a dollar or maybe 99 cents.”

On Thursday, gas at the Costco in Abbotsford was already at 99 cents.

For most places in the Lower Mainland however, gas is more than 30 cents cheaper than it was in June and July. Gas has not been this cheap in the Lower Mainland since September, 2010.

Most of Canada is enjoying lower gas prices as well, so why hasn’t the price of diesel also dropped?

“Diesel is a very different market, this time of year diesel’s close cousin is furnace oil,” says McTeague. “It gets a lot of demand this time of year, so as the temperature goes down the price of diesel goes up, then in the summertime, say in April right until October, the price reverses. Gasoline goes up and it’s diesel that goes down.”

McTeague says people can expect to see these lower gas prices for quite some time, but of course they will go back up eventually.