Gas prices coming down

The search for a lining in this whole pipeline mess. I spent a lot of the day speaking to economy professors and gas price experts across Canada, and while they don’t all agree, some do feel relief at the pumps is on the way thanks to the Trans Mountain expansion, and as we all know, relief needed now more than ever here in Vancouver. I’m at the corner of King Ed and Oak and the two stations behind me here, both sitting around $2.13 a litre, and it’s a similar scene across the Lower Mainland out in Langley today. Two thirteen $2.14 a liter. Now, As for the TMX, with its increased capacity, less of our refined fuels will be arriving by rail and truck, and more through the pipeline, which experts say is inherently cheaper and should lead to lower wholesale prices in BC Yes, while more capacity will mean an increase in pipeline tolls, experts feel the result will still be a small price drop for consumers. I think there’s a lot of economic logic to the theory that the relaxation of the constraint bringing volumes off of rail and putting them back onto the pipeline is actually going to lead to to lower costs. So maybe not pre 2015 costs, but I would expect to see the the prices in Vancouver a lot closer to the prices in say Edmonton. Now to be clear, Sophie went comparing to Edmonton. Their fellows isn’t talking about the price that you and I pay at the pump, but the wholesale price, which he says NBC could drop anywhere from 10 to $0.25 over the next few months. Now, aside from the TMX impacts, a gas price guru does feel there is some immediate relief on the way, predicting that overnight we’ll see a six cent per liter drop, and then come Friday, another three cent drop, bringing prices in Metro Vancouver down to around $2.00. Seven cents a liter back to you.