Analyst: Gas prices fall, expected to drop further in B.C. 0
Gas prices are expected to fall further after western Canada recorded a 3.7% average price drop between June and July. (file photo)
The price to drive has dropped nationwide over the past month and the biggest decreases are expected in the west, according to an Ontario-based gas prices analyst.
Kent Marketing Group analyst Jason Parent said drivers are now enjoying the effects of a recently restored Washington State refinery, shut down after a fire in February, with an average 3.7% drop in prices for the west over a month.
The average price for Vancouver between June 5 and July 3 dropped to 138.6 cents-per-litre from 143 cents-per-litre, according to the company's weekly price data.
"The wholesale prices have been elevated in the region for a while now and they're starting to come back in line with the rest of the country," Parent said Wednesday.
"We can expect to further see at least a few cents or more decrease in the western region."
Victoria's prices, at the same time, fell about a quarter at the pump - down to an average of 105.3 cents-per-litre in the last week.
But that's likely due to a local "price war," Parent said, and is not expected to be reflected in other areas of the province.
Of note, however, is B.C.'s final carbon tax increase on July 1, which added just over a cent to prices for each litre of gas.