Vancouver gas prices down after week of volatility

Metro Vancouver drivers may get a — relatively — pleasant surprise at the gas pump Monday morning.

According to GasBuddy.com, the price of regular gas has fallen by 6.4 cents per litre in the past week, averaging around $1.71 per litre across 427 stations Sunday.

In Vancouver on Monday, prices have dropped below $1.70 per litre at certain stations.

Overall, GasBuddy says the average cost has risen over 8 cents per litre from the same day last month.

Last week, prices spiked overnight, bringing drivers close to the $2 mark for a litre of ‘regular’ Wednesday. GasBuddy analysts attributed the jump, and a forecast of continued rising costs to scheduled maintenance and shutdowns at refineries in California.

In an update Monday, Patrick De Haan, head of petroleum analysis at GasBuddy, says conditions have changed, bringing the price drop — and more relief may be on its way.

“With the switch to lower-cost winter gasoline set to take effect Tuesday, some provinces may soon see relief at the pumps — provided oil prices remain steady and hurricane season stays quiet,” said De Haan.

“More significant relief also appears likely for British Columbia, thanks to improving refinery operations and the restart of a major pipeline in Washington state.”

The national average price in the past week was $1.41 per litre.