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Gas prices on Vancouver Island to drop six cents

But a B次元官网网址榲olatileB次元官网网址 market could lead to increases in the coming weeks
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Drivers should wait a day to fill up as gas prices are set to slide six cents on Thursday.

B次元官网网址淭he best day to buy gasoline looks like Thursday tomorrow,B次元官网网址 GasBuddy.com senior analyst Dan McTeague said. B次元官网网址淏ut that could go back up due to volatility.B次元官网网址

Prices in cities like Victoria, Nanaimo and Courtenay could see prices drop to the mid-1.30s.

Speaking by phone with Black Press Media, McTeague said the recent decrease in gas prices is linked to refineries in Washington State coming back online.

ThursdayB次元官网网址檚 drop, however, is linked to an B次元官网网址渉istoricB次元官网网址 seven-cent drop in crude oil prices that McTeague said comes after expected sanctions on Iran did not hurt global oil supply as expected.

Instead, he said oil has dropped almost $20 a barrel since the start of October.

B次元官网网址淭he U.S. State Department gave waivers to pretty much every country that matters [in oil trading]B次元官网网址 effectively creating a glut,B次元官网网址 McTeague said.

B次元官网网址淩ussia, Ukraine, Organization of the Petroleum Exporting Countries had decided to up supply in response.B次元官网网址

McTeague said gas prices could jump again by a cent on Friday, but doesnB次元官网网址檛 expect to see anything like the highs of 163.9 cents a litre in Metro Vancouver in recent months.

B次元官网网址淪hort of some kind of refinery issue or unusually cold winter or some geopolitical eventB次元官网网址 gas will stay in the 1.35 to 1.45 range.B次元官网网址


katya.slepian@bpdigital.ca

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