Metro Vancouver gas prices fall ahead of Canada Day

Drivers saw some relief at the pumps leading up to Canada Day. What’s in store for the rest of the summer?

VANCOUVER — Drivers across Metro Vancouver are seeing a drop in gas prices heading into Canada Day.

According to GasBuddy.com, the average price for regular fuel has fallen by 15.3 cents over the past week, with several stations posting prices below $1.50 per litre on Sunday and Monday.

Dan McTeague, a petroleum analyst with Gas Wizard, says a reduction in geopolitical tensions between Iran and Israel is helping ease market concerns and drive prices down.

“Markets aren’t nervous,” McTeague said. “There are no longer geopolitical tensions at play that initially drove prices up.”

McTeague recommends drivers fill up after 6 p.m., noting that many stations drop their prices later in the day.

“Gas stations like to charge their full retail price in the morning — up to seven to 10 cents a litre — and by the evening, they’ve taken it away,” he said.

Gas Wizard forecasts an average price of $1.569 per litre for regular fuel on July 1.