The price of gas hit 172.9 cents a litre this weekend in Metro Vancouver. (Black Press Media)

Gas prices in Metro Vancouver hit $1.72 a litre

And one analyst expects it to only go higher this week

Metro Vancouver is likely to break more records, but it’s not something to cheer about.

The price of gas remained at 172.9 cents a litre in the region on Monday, after it hit that new North American record on Saturday.

And according to Dan McTeague, senior analyst with GasBuddy.com, a U.S. embargo expected to take effect on Iranian oil next week will only add to the factors that will send it up three cents more to 175.9 per litre as early as Wednesday.

The cheapest gas as of Monday at 8 a.m. in B.C. was 1.259 cents per litre in Dawson Creek.

McTeague has said the weeks of recent spikes are because of the increase to B.C.’s carbon tax as of April 1, adding about a cent per litre, as well as maintenance at two major fuel suppliers in Puget Sound.

READ MORE: Gas prices spike in White Rock, breaking North American record

Internationally, he has pointed to the U.S. embargo on Iranian oil, production cutbacks within the Organization of Petroleum Exporting Companies and Russia, and output issues in areas such as Libya and Venezuela.

This is a corrected story. A previous version reported the cheapest price of gas in Hope, B.C. Black Press Media has since learned that gas station is closed.



joti.grewal@bpdigital.ca

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Ride for cancer in Langley will take place Sunday, despite COVID-19

Annual fundraiser will be ‘really different,’ but classic cars are expected, organizer promises

Foundation seeks to bring ‘meaningful’ art to Hammond

Asking Maple Ridge residents for suggestions on design and theme for two large community murals

Pitt Meadows one step closer to developing North Lougheed Study Area

City council endorsed the revised NLSA land use plan on Tuesday, July 7

VIDEO: Plane that reportedly crashed into Fraser River was from Delta flight school, Transportation Safety Board confirms

Cessna was flying over the river near Maple Ridge and Langley when it disappeared from radar

The pandemic is widening Canada’s workplace gender gap

Gender pay gap is incentivizing fathers to work while mothers watch children, a new B.C. study has found

Investigation clears RCMP in incident where man fell from Langley overpass

‘Officers acted commendably and placed themselves at risk’ police watchdog report finds

Ex-Okanagan Mountie forfeits 20 days’ pay after sexual misconduct review

A former Vernon RCMP constable made sexual comments, grabbed genitals of male officer in two incidents 10 years ago

Rural Chilliwack residents asked to stay indoors, lock doors amid heavy police presence

Heavy police presence in rural Chilliwack neighbourhood as RCMP contend with ‘serious situation’

Councillor Doug Elford Surrey’s acting mayor during McCallum’s “health concern” absence

Mayor issued a statement Tuesday night saying he’ll be back on the job by Monday

Man found dead on Okanagan trail identified as Hollywood actor

GoFundMe campaign launched for man found dead at summit of Spion Kop

3 people dead in Prince George motel fire

Fire personnel believe the blaze was suspicious although investigation in early stages

B.C. sets terms to review police, mental health, race relations

MLAs to recommend Police Act changes by May 2021

Most Read