If you need to fill up the car, you might want to wait. Gas prices in Canada have officially reached a record-high in North America. Starting today, gas prices in Vancouver have hit a record-breaking high price of $1.67 per litre. Unfortunately, these shockingly high prices will impact Metro Vancouver for the next foreseeable future.
We suspect the gas stations will be a little busier than normal today. Even though the prices for gas are already insanely high, they have gotten a lot worse. Prices of $1.67 per litre have been seen today in the city. Our wallet is already dreading the fill-up.
According to the petroleum analysts at GasBuddy, fuel prices are going to reach the highest they have ever been in Vancouver since October of 2018. Dan McTeague took to his Twitter to state that we would be seeing gas at $1.64 per litre.
McTeague goes on to explain that this extreme rise in gas costs can be linked to gas bars hiking their retail margins. He also noted that the 1.16 cent increase is due to BC’s carbon taxes.
McTeague has taken to Twitter to warn us that these insane gas price hike will take place in Metro Vancouver and the Lower Mainland on April 5th, 2019. He has stated that the record will come into effect at midnight tonight.
However, some gas stations around Metro Vancouver have already reached $1.67 per litre, which is the highest price a major North American city has ever witnessed, the Vancouver Sun reports.
It's official: Metro Vancouver has shattered its all-time highest gas price record. This Esso at Austin Ave & Poirier St. in Coqutilam was selling fuel for $1.67.9 around 10 a.m. on Thursday. The previous record was $1.63.9 pic.twitter.com/zKCnoaZaOn— Global BC (@GlobalBC) April 4, 2019
According to the Vancouver Sun, McTeague noted that gas prices in Metro Vancouver typically rise in the morning and drop in the evening. This is done by the retailers. Because of this, drivers should never purchase their gas in the morning and should always wait until the prices have dropped by the retailers in the evening.
A bit more info from @GasBuddyDan: 163.9 ties the all time price record in Metro Van (😤). But we are likely to see another increase for Friday, which could break the record. pic.twitter.com/vxwgorhiDu— Sheila Scott (@Sheila_Scott) April 4, 2019
With the demand being strong and the supply being limited, McTeague has predicted that the high prices in Metro Vancouver could last for several weeks. So it may be cheaper to buy a bike and use it for your commute.
Right now, the cheapest place to get gas in Vancouver is at the Shell at 1896 East Hastings Street. Their gas is currently priced at $1.49, which is significantly lower than gas stations showing $1.67 per litre. Visit the GasBuddy website before you fill up to find the best gas prices around you.