Gas prices across the Lower Mainland have scored over the last week, with prices plummeting in recent weeks.
GasBuddy.com‘s fuel expert Dan McTeague says there’s been a 13 cent drop in gas prices in Metro Vancouver over the last 10 days.
“We were paying in downtown Vancouver $1.36 just a week or so ago, it’s now down to $1.23.
McTeague says the dip in prices is being fuelled by uncertainty in the oil markets.
“Skepticism over OPEC being able to achieve oil reduction targets with U.S. drillers increasing output proportionately will continue to serve as check on rising gas prices this week,” he says.
“Uncertainty and speculation over the incoming Trump Administration’s energy policies will also likely lead to little movement on petroleum markets.”
McTeague says drivers in the Fraser Valley are also seeing the benefits.
“For places like Abbotsford and other places in the lower mainland, a similar decrease of about 11 to 13 cents a litre, so you can buy gasoline for as cheap as $1.17.
McTeague says prices should stay the same for the rest of the week, and could even drop another two cents by Thursday.