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Vancouver gas prices expected to climb in coming weeks: petroleum analysts

Petroleum analysts give their forecasts for gas prices in the city
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While Vancouver gas stations were offering gas for well under a buck a litre in 2020, prices continue to soar in 2021. 

While Vancouver gas stations were offering gas for well under a buck a litre in 2020, prices continue to soar in 2021. 

As of 5 p.m. Thursday (March 4), Gasbuddy.com says the cheapest place to fill up your tank is at the Superstore located at 350 SE Marine Drive, which is offering gas for 142.9 cents per litre. After that, a handful of stations are offering gas for 143.9 cents per litre, and one is offering it for $145.9.

According to Dan McTeague, President of Canadians for Affordable Energy, formerly of GasBuddy.com, gas prices in Vancouver will continue to rise heading into the spring and summer months.

In a Tweet, the petroleum analyst remarks that prices as high as $1.70 a litre may return to local gas stations this year.

Gas prices in Vancouver and across Canada

In 2019, most people would have scoffed at the notion that Vancouver gas prices would fall below a buck litre in 2020. However, prices continued to fall across the city in the initial months of the pandemic. 

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, tells 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."