The current record for gas prices in Vancouver is $2.099 per litre, but according to some predictions from gas experts in the region, that record could be broken this week.
Gas Price Wizard suggests that gas prices could reach $2.119 cents per litre in Vancouver as early as Thursday, May 4.
There are a few factors behind the potentially record-breaking Thursday at the pump according to analysts and experts, one being a weak Canadian dollar, another being higher taxes.
Gas Price Wizard also put out some information on social media, suggesting that two refineries that closed on the east coast aren’t helping the situation for BC drivers. Other parts of Canada may also see prices soar over the next week.
In recent years, BC has had the highest prices out of all the provinces in Canada, and a big part of that is taxes. As of April 1, the carbon tax actually increased in BC.
To combat high gas prices, after numerous questions from the media and on the heels of other provinces offsetting the cost at the pump for residents, BC Premier John Horgan announced back in March that drivers would be getting a $110 rebate through ICBC, the value of the rebate increasing to $165 for commercial drivers.
In terms of when that rebate may arrive depends on how you’re registered through ICBC. Drivers who are registered with direct deposit can expect their rebates sometime this month, but everyone else will likely be waiting till June.
In the meantime, if you commute around Vancouver using a traditional vehicle, you may want to fill up sooner than later to combat the potentially record-breaking gas prices hitting the city this week.
Unless you drive an electric car, that gas rebate cheque can’t come soon enough. And in case you were interested in an electric car, check out our list of the cheapest electric cars in Canada.