There has been some temporary relief at gas stations around Metro Vancouver on Friday morning after the price at the pump dipped slightly.
Some stations were posting $2.08 a litre for regular — which is down a dime from where prices stood earlier in the week.
However, Roger McKnight, chief petroleum analyst at EnPro, tells 1130 NewsRadio to enjoy while it lasts.
He confirms gas prices are set to jump seven cents at 12:01 a.m. on April 4th, while diesel is set to rise at least 12 cents a litre.
Gas prices have been climbing higher and higher in recent weeks due to the war in Iran and fluctuating markets.
On Thursday morning, the price of oil hit a four-year high following U.S. President Donald Trump’s address to the nation on Wednesday, in which he gave no timeline as to when the violence in the Middle East would end.
On Thursday morning, the federal Conservative Party announced it was pushing Ottawa to cut the gas tax for the rest of the year to help alleviate the pain on people’s wallets. The federal government has zero indication it would consider the idea.
This week, 1130 NewsRadio has been reporting on the impacts of high gas prices on multiple industries like the BC Trucking sector, food banks, grocery stores and local wineries.