(File photo)

Lower Mainland gas prices could drop by eight cents by Friday

Analyst says under $1.30 per litre could be the new normal this winter

  • Nov. 14, 2017 12:00 a.m.

Are you starting to worry about how you’ll be able to afford the price of gas?

Don’t – GasBuddy.com analyst Dan McTeague believes prices at the pump will drop by up to eight cents this Friday.

Prices hit a high of 147.9 cents a litre in Metro Vancouver this week.

“It appears that the high prices are in fact having an impact as more supply is being made available,” McTeague said. “It looks like refiners are coming back online and dropping their prices in order to get more volume sold. Prices have nowhere to go but down.”

Prices are expected to drop by two cents by Wednesday, another five cents by Thursday, and possibly one more cent by Friday, McTeague said.

It’s not a momentary dip in prices, either.

“I think the new normal heading toward Christmas is going to be 1.25-1.30 for Metro Vancouver,” he said.

Prices in the Fraser Valley will continue to sit about 11 cents a litre below the average cost in Metro Vancouver because of the lack of gas taxes.

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