If you’ve been driving the last little bit, you probably have noticed an uptick in gas prices. And yesterday on Canada Day, Vancouver hit an all-time high for gas prices. At 173.9 cents per litre, fill-up might be a bit closer to breaking the bank.
Much like temperature, that’s not the most fun record to break.
These sort of spikes are not uncommon around holidays, with everyone traveling around on their day off. But this is truly a bit of a yikes. With prices that high, it might make us bust out our old Schwinn rather than fill up our gas tanks.
Oh, and we got some better news. Experts say that prices will likely continue to be high for the rest of the summer. Dang, it!
This rise in price is due to a few different things. Increased demand as COVID-19 restrictions lift across BC as well as a few BC-specific taxes are the main culprits. The increased demand makes a lot of sense to us. How many people do you know that have started driving around again now that it’s safe to do so? Or are planning more day trips?
So, while the high prices at the pump are a bit of a bummer, there is a bit of a silver lining in a way. They’re going up because people are going out to explore!
Okay, it might be more complicated than that, but that’s how we like to think of it. We’re just humble article writers, not economists.
Either way, you might want to think twice before planning that big road trip this week!