B.C. gasoline prices hover at $1.20 a litre
13.10.2008 20:02
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- Source: cbc.ca
 The price of gasoline fell to $1.06 a litre at one station, at least, in Vancouver this week. (CBC)After a long summer of discontent, drivers in B.C. are getting some relief as the price of gasoline dropped within striking distance of $1 per litre this week for the first time in a year. According to Gasbuddy.com, a website that tracks pump prices, the price of regular gas in Vancouver was as low as $1.06 per litre Thursday night at one East Vancouver station. Elsewhere in the city, many stations were selling gasoline at $1.10. By late Friday morning, gasoline prices across Metro Vancouver were around $1.20 a litre and were expected to remain at a similar level throughout the Thanksgiving long weekend. But prices in Vancouver still lag behind Ontario, where many stations were already reportedly selling gasoline for 96.6 cents a litre Friday morning, according to the website. After peaking at over $1.50 in some places in Vancouver, gas prices began falling sharply in mid-September across Canada. The price drop has followed the price of crude oil, which had fallen from $147 per barrel in July to around $80 by Friday morning, amid fears of a sweeping global economic recession. With the economic crisis deepening, it's not clear how low prices will go. Jason Toews, co-founder of Gasbuddy.com, predicted fuel prices will bottom out in December while oil and gas analyst Peter Linder of Delta One Capital Partners forecast gasoline prices ranging between $1.05 and $1.15 during the winter. Truckers thankful for savingsFilling up in Langley on Thursday, truck driver Rodney King said the falling fuel prices are good news for those who make their living behind the wheel. "That's good because it spiked so high that it almost put us out of business," King told CBC News. At $1.20 a litre on Thursday, the price of diesel fuel has not fallen as dramatically as gasoline, but for truck drivers like King, even a drop of 10 cents a litre can make a difference on a fuel bill that runs into the thousands of dollars each month. "That will put me down by about 500 bucks at least," said King. "That's $500 I can put towards my tires or whatever I need." Ultimately, that means lower shipping cost and lower prices for consumers across the board, King said. RelatedInternal LinksVIDEO: Alan Waterman reports on falling prices for gasoline and crude oil (Runs 1:15)INTERACTIVE: Compare gas price across the Lower Mainland and B.C.BC Ferries maintains fuel surcharge, despite drop in oil pricesGas prices dropping, but not in B.C.High gas prices taxing public transit systemB.C. gas prices to rise 2.4 cents with carbon taxConsumer HeadlinesNew website addresses workplace bullyingA new website, named Towards a Respectful Workplace, will give employers and employees the information they need to deal with workplace bullying. Double kids' vitamin D intake, pediatricians recommendThe leading U.S. pediatricians group is recommending that children receive double the usually suggested amount of vitamin D because of evidence that it may help prevent serious diseases.Health Canada approves preservative that could inhibit listeriaMaple Leaf Foods is assessing a recently approved preservative for meat products that inhibits the growth of listeria, in the wake of a deadly outbreak linked to one of its plants. New housing prices rising fastest in St. John's: Statistics CanadaNew house prices in Canada rose by 2.3 per cent in August compared with the same month a year earlier, with prices rising fastest in St. John's, Newfoundland, says Statistics Canada.Banks cut prime, but split on new rateA $25-billion mortgage backstop from the federal goverment prompted TD Canada Trust to cut its prime lending rate by 15 basis points to 4.35 per cent. Consumer Life FeaturesYOUR MONEYFinancial adviceCONSUMERFall harvestHow did Canadian crops fare?SAFETYRecalls and Advisories- Electrical wire splices
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