It looks like there might be an end to the record-breaking gas prices – or at least a little break. According to GasBuddy, gas prices in BC will go down by 40 cents per litre which is huge news considering how high it was before!
Ontario prices are also going down and will reportedly continue to drop even more – so it’s not just BC residents that are profiting from this reduction in prices.
Around two months ago, gas prices in North America hit an all-time high. In places like Vancouver, we were seeing $1.67 per litre. After a while, this number wasn’t even shocking anymore as it just kept going up.
While GasBuddy was predicting that prices across Canada would stay high for the rest of summer, we are actually seeing a decrease in price.
According to Global, Metro Vancouver could see about a 40 cent decrease in gas prices; which is huge considering how expensive it was previously.
On the GasBuddy website, you can see that some gas stations in Vancouver are currently charging as little as $1.41 per litre. The lowest recorded price in Vancouver is currently sitting at $1.33 per litre.
But this isn’t even the lowest price in BC! The lowest gas price per litre in the province is sitting at $1.22 per litre in Prince George.
According to the GasBuddy website, the average cost of gas in BC is around $1.44 per litre. This is a huge decrease considering just three weeks ago, people in Metro Vancouver were paying an average of $1.70 per litre.
GasBuddy’s senior petroleum analyst Dan McTeague told Global that he believes this reduction in price will last for the next week or so. Which means we should probably fill up while we can still afford it.
This is amazing news for literally anyone that commutes. According to a recent study, around 60% of Canadians are reportedly considering buying a fuel-efficient vehicle because of the gas prices.
Just three weeks ago, when gas in BC was at it’s highest, a study found that one in three BC residents were struggling to afford gas. Some of those residents were even having a hard time making ends meet once they filled up the tank.