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Metro Vancouver gas drops to $1.739, lowest prices in 9 months

Gas prices in the Metro Vancouver area dropped again Friday morning, as experts predicted on Thursday.

Most gas stations are hovering around $1.759 per litre but two gas stations are as low as $1.739, a Super Save in Richmond and a Smart Gas in Burnaby, according to GasBuddy.

Prices dropped around six cents from Thursday, reaching the lowest prices seen in the region since February.

High gas supplies are the reason for the significant price drop, experts say.

“We’ve seen really great refinery runs over the last week, inventories are starting to build in the gasoline stocks and a little bit of an easing on oil prices. We’re sort of seeing some wins on all fronts right now,” said Paul Pasco, a Kalibrate gas consultant.

“I’m hoping that we may see some further easing of prices, probably across the country, as we continue to see crude prices fall. We’re just not seeing strong demand for crude as we had anticipated.”

The gas analysis expert went on to say he believes the prices could continue to drop into early December.

“We could see things continue to fall,” Pasco told Global News on Thursday.

“There is a risk coming in early December. We may see prices start to pick back up again and possibly into the new year.

“It really sort of depends on what’s going to happen on the demand front.”

&copy 2022 Global News, a division of Corus Entertainment Inc.


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