VANCOUVER (NEWS 1130) – You’ve likely noticed a consistent drop at the pumps and you can expect gas prices to go down even more tonight.
Industry experts tell us we’re in store for another five-cent decrease.
Dan McTeague with GasBuddy.com says one reason is refineries in Washington State have enough supplies, but it could be cheaper.
“If I look at wholesale prices for gasoline on the markets, you’re paying about 14 cents a litre above market prices for gasoline. If I go to a refinery… you’re paying about seven cents a litre more than their wholesale price before tax, and taking into account the difference in the Canadian currency.”
“Be aware of the fact that the oil companies in Canada are always able to charge a premium on gasoline. Today, all things being considered equal, you should not be paying a penny over $1.099, come tomorrow,” he tells us.
The Lower Mainland has some of the highest gas prices in the country, with Vancouver’s prices nearly 20 cents higher per litre than the rest of Canada.