After Metro Vancouver saw record-highs at the gas pumps this year, the region could finally see some relief on Thursday.
Petroleum analyst Dan McTeague says the price at the pump should drop 10 cents a litre Thursday, with another five cent drop on Friday.
“A lot of gas stations Friday morning should see $138.9,” he said.
“Of course we know here in Metro Vancouver a lot of gas stations by the evening like to set some of those retail margins. It wouldn’t surprise me to see some of those stations at or just under $1.30 for the weekend.”
McTeague calls it historic.
“It is such a large amount, 15 cents in just two days. I can’t remember a time that I’ve seen prices drop like that.”
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He says the reason is simple. Prices are just normalizing after a supply crunch in October.
“Much of that supply crunch has dissipated and now what we’re really looking at is prices getting back to normal.”
It comes after a rocky year at the pumps for Metro Vancouver.
In April, the region saw an all-time high of $178.9.
The record-breaking price was blamed on refinery closures along the west coast.
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