Metro Vancouver gas prices 15c lower than this time in 2024

The uncertainty of U.S.-imposed tariffs and their economic impacts are putting downward pressure on gas prices in Metro Vancouver, it seems.

According to Gasbuddy, the price of a litre of regular gasoline in Metro Vancouver is 15 cents lower than at the same time last year.

“Average retail gasoline prices in Vancouver have fallen 2.9 c/L in the past week, averaging 173.31 c/L yesterday, according to GasBuddy’s daily survey of 427 gas outlets in Vancouver,” GasBuddy said on Monday.

The drop is almost double that of the national average, GasBuddy explains, with the national average falling just 1.8 c/L since last week.

“Including the change in gas prices in Vancouver during the past week, prices yesterday were 14.5 c/L lower than the same day one year ago and are 14.6 c/L lower than a month ago. The national average has decreased 4.9 c/L during the last month and stands 1.8 c/L lower than this day one year ago,” the gas analytics organization said.

According to GasBuddy, gasoline in the region hasn’t been this cheap in March since the height of the COVID-19 pandemic in March 2021.

This time around, caution is also playing a role in keeping prices lower—particularly uncertainty over tariffs, which is likely having a moderate impact,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Concerns about the direction of the economy could have a major influence on fuel prices in the months ahead, especially with the high level of uncertainty surrounding tariffs. Additionally, OPEC+ announced last week that it would gradually begin restoring oil production after nearly two years of cuts, adding further downward pressure on oil prices,” he added.

“As a result, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected.”

As of Monday, the average price of gas in Abbotsford is 166.15 c/L, 180.36 c/L in Victoria, and 169.18 c/L British Columbia-wide.