Gas Prices Leap to One-Year High in Greater Victoria, Echoing National Trend

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Thursday witnessed a significant escalation in gas prices in the Greater Victoria locale, marking a one-year crest in the costs. Several stations reported a surge exceeding 12 cents for every litre.

On the eve of the surge, the cost of regular gasoline hinted just under the $2 threshold before leaping to 212.9 cents per litre on Thursday morning. Fuel stations across Victoria, Saanich, and West Shore reflected this ascent.

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Interestingly, this significant rise coincides with the first anniversary of a previous regional record when drivers wouldn’t have found a litre for anything less than an eye-watering 239.9 cents on September 29, 2022.

Elsewhere in Nanaimo, the average pricing stood at 206.9 cents per litre on this day. Comparatively, Vancouver exhibited slightly lower rates of between 202.9 cents and 205.9 cents per litre at the majority of its gas stations.

When viewed from a national perspective, statistics from the Canadian Automobile Association painted a broader picture. The nationally averaged price of regular fuel rested at 161.3 cents per litre as of Thursday.

This trend of growing gas prices has been observed throughout the Canadian summer. Coincidentally, the average oil prices have witnessed a similar trajectory, springing forward from an approximate US$67 per barrel in June to US$93 on the day preceding the hike.

This recent development, while a part of the cyclical nature of the oil industry, has raised alarm bells amidst consumers and experts alike. They anxiously monitor the situation, hoping for a respite from the inflating costs. Undoubtedly, these connotations extend beyond commuters and the transport sector, hinting at far-reaching economic implications in the future.