Gas prices are already some of the most expensive in the country here on the West Coast and they are about to get even more costly. It is anticipated that this weekend gas prices across Metro Vancouver will reach record breaking levels, up to $1.75 a litre by Friday.
Many around the province might be planning to get out and get away this weekend to deal with the heat, it’s supposed to be an incredible heat wave that will smash records and have Vancouver hotter than Miami.
The rising gas prices around Vancouver and other areas are expected to continue throughout summer. It is going to get more costly now for individuals and families to plan those road trip vacations.
When gas prices increase drastically many used to cross the border to the U.S. to fill up because it was much cheaper but the border is closed still for non-essential travel and there are other pandemic related restrictions for travelers and so you can’t easily do that like many used to. Demand is expected to continue fueling those high gas prices over the summer.
Those who live in the lower mainland aren’t shocked when there is talk about high gas prices, it isn’t anything new to this area. Gas prices are spiking in other areas of Canada and in the U.S. too as travel picks up now that things are reopening more and more.
People around B.C. are going to continue to feel pain at the gas pumps when they go to fill up if those prices continue to rise this summer as expected.
Analysts have suggested that the biggest factor contributing to the problem is a surge in crude oil prices and since that started they noticed those prices rising. They also note other factors that might be contributing such as growing demand for travel right now as well. Restrictions are continually being eased in B.C. for the 4-step reopening and that means that more are traveling around the province and elsewhere for summer vacations.
Some suspect that we might start to see prices come back down again after summer. That might be around August or September according to some gas market analysts. But who knows exactly when or how much it might decline then or how high it might have reached by then.