Gas stations in the City of Vancouver are selling gas for over 1.50 a litre today.
While several stations are currently still offering gas for under 1.50 a litre in Vancouver, a couple of stations are showing it for 151.9 cents per litre.
As of 2:44 p.m. Monday (March 8), Gasbuddy.com says the cheapest place to fill up your tank is at the Esso & 7-Eleven located at 688 SE Marine Drive, which is offering gas for 144.9 cents per litre. The Petro-Canada at 710 SW Marine Drive is selling gas for the same price.
Metro Vancouver motorists woke up to gas prices over $1.50/litre. 😬😬 @CTVVancouver @CTVMorningLive pic.twitter.com/b016OIubb7
— Jim Fong - Vancouver (@jimfong604) March 8, 2021
On Saturday, March 6, Dan McTeague, President of Canadians for Affordable Energy, formerly of GasBuddy.com, took to Twitter to state that gas prices in Vancouver would likely reach 152.9 in the coming days.
Previously, the petroleum analyst said gas prices in the city will continue to rise heading into the spring and summer months. In fact, he predicts prices as high as $1.70 a litre will return to local gas stations this year.
Including the offset costs of the BC Low carbon Fuel standard at about $350/tonne, which works out to 12 - 13 cents a litre, total tax on #Vancouver’s 152.9 cents a litre (tomorrow) works out to over 65 cents a litre https://t.co/81WDiVHcD5
— Dan McTeague (@GasPriceWizard) March 6, 2021
Gas prices in Vancouver and across Canada
While Vancouver gas stations were offering gas for well under a buck a litre in 2020, prices continue to soar in 2021.
Since then, however, gas prices have continued to climb in the city and across Canada--and it doesn't look like they will slow down anytime soon.
Patrick De Haan, Head of Petroleum Analysis with GasBuddy.com, told Vancouver Is Awesome that roughly the last two weeks have seen a sharp increase in prices due primarily to refinery shutdowns south of the border due to extremely cold weather.
That said, De Haan says with the Organization of the Petroleum Exporting Countries (OPEC) decision today to not yet raise output, "I would expect prices to continue trending higher over the coming weeks, and perhaps by the start of May, be 7-15 [cents per litre] higher than today, or potentially more, should demand for gasoline continue to rebound as the COVID-19 pandemic improves."
