There was some welcome relief at the pumps Friday morning for Metro Vancouver drivers, who have been paying some of the highest gas prices in the country. Prices dropped below $2 per litre at many stations, including a Chevron in Surrey that was selling regular at 194.9 cents. The decrease just in time for some families who are preparing to head out of town on summer road trips. Looking ahead, Dan McTeague, president of Canadians for Affordable Energy, said prices could continue to fall into the weekend, but not by much. “Today’s the day to fill up,” he said. “It’s hard to say where markets are going to go. We can see firmly two days ahead, but it looks like there is not much change coming from Sunday all the way to next Wednesday, unless something dramatic should happen.” Friday’s shift has been credited to a decrease in wholesale gas prices, which resulted in cheaper fuel in several provinces. The national average was around $1.60 per litre Friday morning. McTeague noted that drivers are still paying more than they did before the Iran war, however—at this time last year, gas prices in Metro Vancouver were around $1.77 per litre. Ongoing negotiations on an interim agreement to reopen the Strait of Hormuz have led to some cautious optimism, McTeague said, while noting the situation remains volatile. “There’s hope by traders that, in fact, there might be some resolution,” McTeague said. “That isn’t a perfect solution but it’s better than the markets have seen.”
