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.”
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.
- Joffre Lakes to close for 3 periods this year under agreement with First Nations
- ‘Why aren’t we doing more?’ White Rock on edge with killer on the loose
- B.C. carjacking victim says she doesn’t trust the ‘catch-and-release’ system
- Inquest into fatal Surrey hostage-taking recommends cameras for ERT teams
Comments