A man fills up his truck with gas in Toronto, on Monday April 1, 2019. Statistics Canada says the annual pace of inflation heated up in November as gasoline prices posted their first year-over-year increase since October last year. THE CANADIAN PRESS/Christopher Katsarov

Greater Victoria sees highest gas prices in the country

The Capital Region sits higher than Vancouver and the northern Island

Greater Victoria is home to the highest gas prices in the country, according to gas price monitoring site, gasbuddy.com.

As of Tuesday morning the average gas price in the Capital Region was 142.7 cents per litre, compared to 139.5 in the Nanaimo region and 136.8 in Greater Vancouver. Northern Vancouver Island, the Sunshine Coast and northern B.C. all hold high national averages of 132.

Comparatively, the country’s lowest gas prices can be found in Edmonton at 91.7 cents per litre, and Calgary and Fort McMurray where it’s 95.1.

These highs have still dropped from recent days; in the last week the average gas prices in Greater Victoria were 143.14 cents per litre.

ALSO READ: Victoria sees highest gas prices on record

Gas specialists say that even with national highs, it might be wise to fill up sooner than later.

“Oil prices rebounded last week on word that OPEC [Organization of Petroleum Exporting Countries] members were closely considering cutting global oil production for several months to offset the decline in demand due to the coronavirus, pushing average gas prices in Canada marginally higher versus a week ago,” said Patrick DeHaan, head of petroleum analysis for GasBuddy in a statement.

“While it’s possible average gasoline prices will remain within arm’s reach to recent lows, unless there’s renewed or new concerns with the spread of the coronavirus, we may have seen the deepest discounted prices behind us, with some chance we’ll hold close to the lows before the seasonal rally begins in earnest. It wouldn’t be a bad time to fill up to hedge the chances of prices rising in the coming days.”

vnc.editorial@blackpress.ca

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