Metro Vancouver gas prices predicted to rise 10 cents RS News


RS News

Gas prices are rising in Metro Vancouver and drivers could see another hike at local pumps before the weekend.

On Thursday, average prices reached 208.9 cents per liter, up five cents from the day before. However, the increases are expected to continue, according to price forecasting site Gas Wizard, and could reach as high as 218.9 on Friday.

According to a heat map, the Greater Vancouver area had the highest prices in the country as of Thursday.

In Toronto, the average prices are 148.9 Thursday and in Calgary they are 12 cents lower, according to the Gas Wizard.

Metro Vancouver’s prices broke $2 a liter Wednesday after hovering just below that mark for several weeks. Gas prices in BC last broke a record on June 6, reaching 236.9 cents per litre.

Some local drivers say the recent price increases will force them to change their spending habits.

One Surrey resident, who gave CTV News Vancouver only his first name, Dwayne, said he switched from a car to a motorcycle to save money.

“Gas prices are so high these days that I figured a bike is probably the most economical way to get around and it’s a lot of fun at the same time,” he said Wednesday as he filled up his bike at a Chevron in Guildford .

He said he can now ride to work all week for about $25.

Earlier this year, when drivers were paying what was at the time a record-breaking 214.9 cents per litre, BC Premier John Horgan announced relief in the form of a one-time $110 rebate. Horgan announced other measures earlier this month to combat a rising cost of living, including a boost to the Climate Action Tax Credit and the BC Family Benefit.

As well, the annual rent increase – which is normally tied to inflation – will be capped at a maximum of two percent by 2023. For a household paying $2,000 per month, this works out to a maximum hike of $40 per month. The province estimates that this will represent a savings of up to $816 per year.

With files from Regan Hasegawa of CTV News Vancouver


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