Gasoline prices across Metro Vancouver climbed sharply overnight Tuesday, with retail stations now charging between $1.98 and $1.99 per litre.
The sudden increase adds to the financial pressure on Canadian motorists, who have already faced volatile fuel costs in recent weeks.
Industry experts attribute the five-to-10 cent per litre jump primarily to rising global oil prices.
The surge in crude benchmarks is being driven by escalating tensions and active conflict between Iran and the United States, which has injected a significant risk premium into energy markets.
This development marks the latest transmission of geopolitical risk to regional retail fuel prices.
While the immediate impact is felt at the pump in British Columbia, the underlying driver is the broader repricing of supply risk in global oil markets.