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Gas prices likely to fall tonight across Metro Vancouver

Last Updated Jun 28, 2019 at 10:52 am PDT

FILE - Motorists fuel up vehicles at a gas station in Vancouver, B.C., on Sunday April 22, 2018. THE CANADIAN PRESS/Darryl Dyck
Summary

Crude oil, geo-political pressures, the carbon tax: there are a bunch of forces tugging at the price of gas right now

Gas analyst says you should wait to top up your tank until Friday night, if you can, around Metro Vancouver

Don't forget: TransLink tax on Metro Vancouver gas jumps by another 1.5 cents per litre on the holiday Monday

VANCOUVER (NEWS 1130) – You may have noticed the price of gas jump about four cents overnight to $1.55 per litre for much of Metro Vancouver. But for those who can wait to fill up their vehicles, you may be rewarded.

Gas prices are expected to fall tonight, according to Dan McTeague, a senior petroleum analyst with GasPriceWizard.com.

“The reality is that many gas stations by later this evening will drop that price by as much as 12 cents a litre,” says McTeague. “So, best to gas up later this evening or, if you can, wait till tomorrow evening.”

McTeague says there is a lot of competition on that last 12 cents in every litre of gas, and many gas stations will by working hard to get your business.

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But he also cautions thaat this relief is likely to be short-lived.

“It’s not going to be a celebration at the pumps on Canada Day as a result of this 1.6 cent net increase,” says McTeague. “So, I would suggest that while it’s great to celebrate the country, we may want to hold off and postpone celebrating at the gas pumps across Metro Vancouver.”

As for how gas prices will be affected by the G-20 meeting underway in Japan right now with any developments in U.S.-China trade talks, we’ll just have to wait and see.