It feels like there’s never a good time to fill up on gas. But ahead of the weekend on Friday, July 22, the pumps could be primed for a cheaper tank as Metro Vancouver gas prices could drop soon.
The S&P 500, an old-school market indicator that includes legacy and petroleum companies, is generally a good indicator of the larger economy. If the S&P 500 is dropping, generally everything’s dropping with it, including gas prices. On Friday, July 22, the S&P 500 was down almost 1%. Of course, there are lots of other factors that go into predicting gas prices, too.
You don’t have to be a commodities expert to guess that it’s possible prices will drop more, and even according to Gas Wizard, the price is expected to drop to $1.939 on average per litre in Vancouver on Saturday, July 23.
Already, on Friday, July 22, gas prices below $2 per litre were observed in Metro Vancouver.
Now the question is, how low can you go?