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Greater Victoria gas prices ease, but region still higher than B.C. average

High demand from summer travel will keep prices higher, predicts GasBuddy analyst
(Black Press file photo)

Victoria’s gas prices have fallen by 1.2 cents per litre (c/L) in the last week, but drivers in the capital continue to pay more than mainland counterparts.

According to a daily survey of 95 Greater Victoria gas outlets by Gasbuddy, the average price was 152.49 c/L of regular fuel as of Sunday (May 23).

The downward trend follows nationally, although those on the mainland continue to pay less per drop than Islanders; B.C.’s average fell 0.3 c/L from last week’s 140.05 c/L to 139.79 c/L, while the national average dropped 0.4 c/L to 129.51 c/L.

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Prices won’t fall too significantly, however, because of heavy gas demand driven by extensive travel throughout the summer, predicts the head of GasBuddy’s petroleum analysis, Patrick De Haan.

“We may see some mild dips in gas prices over the next week, thanks primarily to the price of oil falling slightly as the potential for Iran to ramp up oil exports improves, but the summer is shaping up to see heavy travel,” he said. “As Canadian vaccination rates remain high and more people feel better about getting outside, we certainly may see demand spikes this summer, which could influence prices.”

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