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Lower Mainland gas prices expected to drop this week

(iStock Photo)

VANCOUVER (NEWS 1130) – It might be worth holding off on filling up at the pump for a couple of days, with gas prices expected to drop by seven cents a litre.

Dan McTeague with GasBuddy.com says prices across the Lower Mainland are set to drop by two cents a litre overnight, and by another five cents a litre Wednesday into Thursday.

“So that the top prices we see here in Metro Vancouver will be 138.9 or less. So best not to visit the gas station until midnight Thursday morning.”

He says the prices are likely to continue to tumble for the next several days.

McTeague says prices escalated recently because of refinery maintenance periods and high demand.

“I think we’ve hit a point where high prices have encouraged a lot of refineries to come out of maintenance, and supply continues to flow more abundantly. Most refineries are doing everything they can to get as much gasoline out there to take advantage of these prices, and that’s one of the main reasons there’s now a bit of a supply overhang.”