Despite dropping afterwards, it was an expensive Christmas at the pumps for Greater Victoria residents, continuing the past few years’ trends of rising prices.
Average prices were at $1.51 per litre on Dec. 27, dropping 1.6 cents per litre in the past week, according to GasBuddy’s daily survey of 95 gas outlets in Victoria. That’s the highest Dec. 27 gas price over the past five years and well above the national average. Even though Canada’s average price increased 0.9 cents per litre in the last week, it still came in at 138.87 cents per litre, more than 10 cents lower than in Victoria.
Current prices are high compared to the historical record as well. On Dec. 27 in Victoria prices have ranged widely over the last five years, coming in at 119.83 cents per litre in 2020, 131.51 cents per litre in 2019, 137.64 cents per litre in 2018, 126.74 cents per litre in 2017 and 117.74 cents per litre in 2016.
“Canada’s national average price of gasoline saw little change over the last week as oil prices bounced around, leaving motorists to one of the most expensive Christmases to fill their tanks,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With demand remaining strong despite a rise in COVID-19 cases, there may be little downward movement for now. Closing out the year on a high note may, unfortunately, provide a foundation for gas prices to climb to new highs in 2022.”
Including the change in gas prices in Victoria during the past week, prices Boxing Day were 31.2 cents per litre higher than the same day one year ago and are 5.0 cents per litre lower than a month ago. The national average has decreased 4.9 cents per litre during the last month and stands 34.2 cents per litre higher than this day one year ago.
Prices in Victoria are currently slightly above the provincial average (149.79 cents per litre), but still below prices in Vancouver 156.00 cents per litre.