How low can we go?: Metro Vancouver gas prices "cheapest" in months

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Gear up, Vancouver, gas prices are set to drop again this week.

That’s according to Gas Buddy, which monitors fuel prices across Canada and the US.

Patrick De Haan, the head of petroleum analysis, says while prices are cruising along to a more comfortable price, at this point, it’s too soon to predict how long they will stay low.

“We’re expecting the drop that has materialized over the last few weeks to continue into another week — for now. The drop is simply an improving situation after refinery outages caused prices to spike. However, any new refinery issues could send prices back up, or change in OPEC policy, etc,” Haan said Monday.

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In recent days, drivers saw some stations with prices just below the $1.80 mark, especially in areas like Langley and Abbotsford. On Monday morning, the price of gas in Vancouver was close to $1.78.

However, even with a few cents drop this week, we still have a long way to go to hit levels that haven’t been seen since before the Ukraine conflict.

Last week, prices finally cooled down with a 55-cent drop compared to a record $2.409, which was reached on October 8. It was the sharpest decline in prices all year.

However, our neighbours to the east are still paying significantly less.

On Monday, the average price per litre of regular gas in Alberta was about $1.338, according to Gas Buddy.

In Toronto, drivers are looking at closer to $1.52 per litre of regular fuel.

Based purely on Gas Buddy’s 12-month trend, gas prices typically fall around autumn and drop slightly more during the holidays before they gradually increase in the new year and into the warmer months.

With files from Amir Ali