If you were thinking about filling up today you might want to hold off, as gas prices could see another big drop in Vancouver tomorrow.
The prediction comes from Gas Wizard and it may be due to a meltdown in the energy markets according to the president of Canadians for Affordable Energy, Dan McTeague.
McTeague has been suggesting that the reason prices have been so high is due to the fact that drivers have been being “held hostage” with a 25+ cent-per-litre retail margin.
Gas prices are going to drop more sharply in eastern Canada, but they could fall by as much as 11 cents in Vancouver.
The price at the pump was hovering around $2.159 per liter on Wednesday, July 6. On Thursday, prices could reach $2.049. Many stations around the city had dropped prices to around $2.069 this week, but the prediction for tomorrow would make this the lowest point for gas prices since sometime between May and early June according to YCharts.
At the highest point, prices fell somewhere above $2,332 in the month of June, a record for Vancouver.
While $2,049 is relatively cheaper than what we’ve seen in recent weeks, it’s still not cheap.
The Greater Langley Chamber of Commerce has called for the suspension of federal and provincial excise taxes including the GST to provide tax relief for drivers.
“Tackling soaring fuel costs is ideal because they tend to get embedded into the price of everything at each stage across the supply chain,” said Langley Chamber CEO Cory Redekop in a statement.
“If a family can save $60 a month on filling the average car, that money can be better spent supporting our local business community as opposed to going to soaring energy costs.”