The price of gas hit 172.9 cents a litre this weekend in Metro Vancouver. (Black Press Media)

Gas prices in Metro Vancouver hit $1.72 a litre

And one analyst expects it to only go higher this week

Metro Vancouver is likely to break more records, but it’s not something to cheer about.

The price of gas remained at 172.9 cents a litre in the region on Monday, after it hit that new North American record on Saturday.

And according to Dan McTeague, senior analyst with GasBuddy.com, a U.S. embargo expected to take effect on Iranian oil next week will only add to the factors that will send it up three cents more to 175.9 per litre as early as Wednesday.

The cheapest gas as of Monday at 8 a.m. in B.C. was 1.259 cents per litre in Dawson Creek.

McTeague has said the weeks of recent spikes are because of the increase to B.C.’s carbon tax as of April 1, adding about a cent per litre, as well as maintenance at two major fuel suppliers in Puget Sound.

READ MORE: Gas prices spike in White Rock, breaking North American record

Internationally, he has pointed to the U.S. embargo on Iranian oil, production cutbacks within the Organization of Petroleum Exporting Companies and Russia, and output issues in areas such as Libya and Venezuela.

This is a corrected story. A previous version reported the cheapest price of gas in Hope, B.C. Black Press Media has since learned that gas station is closed.



joti.grewal@bpdigital.ca

Like us on Facebook and follow us on Twitter

Just Posted

VIDEO: Young balance-bikers race through Surrey’s Civic Plaza at Strider Cup

The course has several obstacles including ‘Mount Scary’ and the ‘Noodle Monster’

‘Potentially life-threatening’ injuries in overnight Surrey crash

Police had Highway 10 between 180th and 186th streets closed for several hours

45-year-old ID’ed as victim of South Surrey stabbing

Delphin Paul Prestbakmo died at the scene, near 18 Avenue and 152 Street

Volunteers help remove invasive plants from Surrey park

Environmental groups can be a ‘stepping stone’ for future career

Support granted for NatureKids

Program provides opportunities for youth and families to learn about and enjoy the outdoors

VIDEO: Langley Ribfest met with protesters

Groups that oppose the event for various reasons plan to be on site each of the three days.

Canadians killed in Afghanistan honoured during emotional dedication ceremony

One-hundred-fifty-eight Canadian soldiers died during the mission

It’s snow joke: Up to 30 cm of snow expected to fall in northeastern B.C.

Alaska Highway, Fort Nelson to be hit with August snowstorm, according to Environment Canada

‘I’m just absolutely disgusted’: Husband furious after B.C. Mountie’s killer gets day parole

Kenneth Fenton was sentenced to prison after he fatally struck Const. Sarah Beckett’s cruiser

Sea-to-Sky Gondola in B.C. likely out of commission until 2020

Sea to Sky Gondola carries between 1,500 and 3,000 people every day during the summer season

PHOTOS: Weapons seized at Portland right-wing rally, counterprotests

Not all who gathered Saturday were with right-wing groups or antifa

Maple Ridge’s first retail cannabis store opens Monday

Spiritleaf is just the second private pot shop in the Fraser Valley

Discussion on grief and loss between Stephen Colbert, Anderson Cooper goes viral

The exchange includes emotional question from Cooper, and outlook on grief as a child

Toronto activist calling on federal parties to nominate more black candidates

Fewer than 20 black Canadians have been nominated so far, including some Liberal MPs seeking re-election

Most Read