Metro Vancouver gas prices set to hit as low as $1 a litre

Metro Vancouver gas prices have hit a 17-year low, and could drop further.

Fuel going for $1.10.9 per litre was spotted in the region on Wednesday morning, a price not seen since 2003.

Petroleum analyst Dan McTeague says prices could dip into the range of $1 per litre by Wednesday night.

1:45 COVID-19: Stock markets in Canada, crude oil prices collapse

McTeague says lower prices are linked to a drop in demand for gasoline with most people staying at home due to the coronavirus pandemic.

Another factor, he says, is the ongoing oil price war between Saudi Arabia and Russia.

4:33 A brief history of gas prices in B.C.

Last year, Metro Vancouver fuel prices hit record highs, topping more than $1.70 per litre.

Prices have dropped significantly across the country. In Nova Scotia, the cost at the pump plunged below 80 cents a litre.