Canadian gas prices at 7-year low for July long weekend, except in Vancouver
Gasoline prices in Canada are averaging $1.04 per litre; in B.C., it's $1.20 per litre
The rest of Canada is enjoying a seven-year low in gas prices this July long weekend, but not, B.C.
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According to research done by GasBuddy.com, gasoline prices in Canada are averaging $1.04 per litre.
But in B.C., the average price for gasoline is $1.20 per litre. In Vancouver, it's $1.29.
"Vancouver will maintain its distinction as being the most expensive jurisdiction for fuel anywhere in North America," said Dan McTeague, a senior petroleum analyst with GasBuddy.
And unfortunately, said McTeague, that won't change.
"Taxes have a lot to with that, so does the wholesale price coming out of the Pacific Northwest," he said.
Three factors play into the gasoline market this summer:
- A downturn in the price of crude, which has hovered around $45 US for the past several weeks.
- Lower than expected demand for gas as the summer driving season starts.
- Large inventories of gasoline in the United States.
But, McTeague said in the Pacific Northwest, there tends to be a supply crunch at any given time.
"Refiners are always scrambling to produce product for boutique, environmental sensitive regions like Los Angeles and to a lesser extent San Francisco," he said.
For drivers in Vancouver, the news isn't shocking at all.
"They're always inflated, so not a surprise at all," said Lucas Green.
"You expect it now .... since it's the norm. It's not really anything surprising or that much of a hurt."