Metro Vancouver gas prices hit 99 cents per litre as coronavirus hammers oil markets
For the first time in years, the price of gasoline in Metro Vancouver has dipped under a dollar per litre.
The milestone was reached Thursday night, with several gas stations advertising fuel for 99.9 cents per litre.
Prices rebounded Friday and were hovering just over a dollar a litre.
Patrick DeHaan with Gasbuddy.com said the rock-bottom prices we’re not used to seeing were the result of a glut caused by both supply and demand factors.
Saudi Arabia and Russia have both ramped up production at the same time as consumer demand is lower than ever due to people working from home and practicing social distancing amid the coronavirus pandemic, he said.
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