Vancouver gas prices drop for fourth week

Gas prices in the Lower Mainland continue to follow a downward trend, outpacing even the national average.

Analysts from GasBuddy.com say the average price in Vancouver has fallen 2.4 cents per litre in the last week — compared to the national average that fell just 2.1 cent per litre.

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“Including the change in gas prices in Vancouver during the past week, prices yesterday were 33.1 c/L lower than the same day one year ago and are 21.8 c/L lower than a month ago,” GasBuddy added.

Head of petroleum analysis Patrick De Haan says the national average has fallen for the fourth straight week, making for some of the lowest seasonal prices since 2020.

“Oil prices remain under pressure amid rising U.S., Canadian, and OPEC+ oil production, while refinery output is holding near some of the highest seasonal levels in years — factors that are likely to keep gas prices challenged in the weeks ahead. In fact, a handful of stations in Alberta have already dipped below the $1-per-litre mark, underscoring the extent of the price relief Canadians are seeing,” said De Haan.

On Sunday, the price in Vancouver averaged 137.91 cents per litre, 124.49 cents per litre in Abbotsford, while the provincial average dropped to 135.2 cents per litre.

As of Monday morning, prices as low as $1.30 per litre could be found in Vancouver.