Gas prices in Metro Vancouver-are gas pumps this B.C. Day long weekend, a noticeable drop from last year when they were at $1.38.
“It can never be cheap enough, but $1.15 is a lot better than what it was before so…” said a man filling up his car, taking advantage of the prices.
Crude is currently trading below US $40 per barrel and it dropped almost four per cent Monday.
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“What we are seeing here, is for the first time in seven years supply is actually exceeding demand,” Dan McTeague with GasBuddy.com said.
“We are well through the summer driving period,” he said “Refineries are having to make a decision: do they maintain higher prices or do they liquidate at lower prices?”
Industry experts say crude oil prices may go even lower, potentially making the summer driving season even more affordable.
–With files from Jennifer Palma