Vancouver fuel update and outlook

Average retail gasoline prices in Vancouver have risen 0.3 c/L in the past week, averaging 171.05 c/L yesterday, according to GasBuddy’s daily survey of 427 gas outlets in Vancouver.

This compares with the national average that has increased 2.8 c/L in the last week to 138.58 c/L, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Vancouver during the past week, prices yesterday were 25.8 c/L lower than the same day one year ago and are 20.3 c/L higher than a month ago.

The national average has increased 5.7 c/L during the last month and stands 25.6 c/L lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on May 19 in Vancouver have ranged widely over the last five years:

196.81 c/L in 2024, 186.76 c/L in 2023, 227.14 c/L in 2022, 153.98 c/L in 2021 and 106.63 c/L in 2020.

Areas near Vancouver and their current gas price climate:

Abbotsford- 162.08 c/L, up 4.4 c/L from last week’s 157.70 c/L.

Victoria- 175.56 c/L, up 6.2 c/L from last week’s 169.36 c/L.

British Columbia- 159.68 c/L, up 2.0 c/L from last week’s 157.70 c/L.

“Average gasoline prices rose in all 10 Canadian provinces over the last week, as oil prices surged following former President Trump’s decision to reduce tariffs and finalize new trade deals—moves that inspired optimism in global markets that a major tariff-driven economic slowdown might be avoided,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“The combination of rising oil prices, tightening gasoline inventories, and seasonal demand has added upward pressure to prices nationwide. While Canadians are still paying less than they were a year ago at the pump, the gap is narrowing as oil markets rebound,” he explained.

“For now, Canadians can expect one of the most affordable summer driving seasons since the pandemic, with inflation-adjusted prices tracking among the lowest in more than five years.”