Gas prices hit record high in Metro Vancouver and could go higher, analysts say

Gas prices reached another record high in Metro Vancouver Wednesday.

The price of a litre of regular gasoline is now $1.589 at many stations throughout the region. While the jump was predicted by analysts, the price is still expected to go higher.

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A weakening Canadian dollar means gas prices in Metro Vancouver are going to move even closer to the $1.60 mark.

“This past two or three weeks have been record after record falling,” said gas analyst Dan McTeague. “About a month ago we broke through the $1.544 range, which was the highest ever recorded as an average in Metro Vancouver.”

“That average is definitely on its way out.”

A 2018 fuel price outlook report by GasBuddy.com predicted averages between $1.46 and $1.52 per litre at the start of the year.

The average driver will spend an extra $600 to $700 annually to fill up, said McTeague.