Average retail gasoline prices in British Columbia have fallen 2.9 c/L in the past week, averaging 130.61 c/L yesterday, according to GasBuddy's daily survey of 1,464 gas outlets in British Columbia. This compares with the national average that has fallen 2.4 c/L in the last week to 118.31 c/L, according to gasoline price website GasBuddy.com.
Including the change in gas prices in British Columbia during the past week, prices yesterday were 20.9 c/L higher than the same day one year ago and are 12.6 c/L higher than a month ago. The national average has increased 7.6 c/L during the last month and stands 20.8 c/L higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on November 20 in British Columbia have ranged widely over the last five years:
109.76 c/L in 2016, 114.40 c/L in 2015, 122.60 c/L in 2014, 124.40 c/L in 2013 and 120.63 c/L in 2012.
Areas near British Columbia and their current gas price climate:
Abbotsford- 128.56 c/L, down 2.3 c/L from last week's 130.83 c/L.
Vancouver- 136.39 c/L, down 6.5 c/L from last week's 142.84 c/L.
Victoria- 132.94 c/L, down 2.8 c/L from last week's 135.71 c/L.
"The cooling off of consumer demand for gasoline heralds a week that is likely to continue seeing pump prices leveling off across much of Canada," said Dan McTeague, senior petroleum analyst at GasBuddy. "High prices over the last several weeks has led to a rise in output with refineries taking full advantage of the unusual fall-time fuel frenzy which saw most Canadians pay average prices not seen since October 2014."
"Thankfully, Vancouver, Victoria and most of B.C. should see pump prices decline again this week with a 2 cent a litre drop, while Calgary, Edmonton, Regina, Saskatoon and Winnipeg who saw pump prices fall 5 cents a litre on average last week, should expect another 3 cent fall by Sunday. For Toronto, Ottawa and London, pump prices will drop 2 cents, while Montreal, which traditionally sees retail margins restored by Tuesday, can expect a 10 cent increase to about 129.9 cents a litre. For the Maritimes and Newfoundland which follow last week’s prices under their regulated price regimes, a 3 cent a litre drop is also expected, bringing prices there more in line with the rest of eastern Canada," McTeague predicted.