Vernon Gas Prices Rebound 11 Cents Overnight After Brief Late-December Dip

January 1 2026 - Gas prices in Vernon jumped 11 cents overnight at the end of December, with regular fuel climbing from 120.9 cents per litre to 131.9 cents by Dec. 31, catching many drivers by surprise.

The increase followed a brief price dip in the days leading up to Dec. 29, when Vernon posted some of the lowest prices in the region. That drop, however, appears to have been largely local.

Leading up to the jump Vernon posted some of the lowest prices in the region

Nationally, gasoline prices were relatively stable in late December, averaging around 121 cents per litre across Canada.

In Kelowna, prices eased slightly but remained near the $1.30 per litre mark and did not experience the same sharp drop or rapid rebound seen in Vernon.

Global oil markets do not appear to explain the price swing. Crude oil prices were flat during the period, with West Texas Intermediate trading near US$58 per barrel and Brent crude around US$61, meaning oil prices were unlikely to have driven either the drop or the overnight jump.

There were also no changes to fuel taxes or regulations at the time.

Industry observers say the most likely explanation lies in wholesale gasoline pricing and regional supply conditions.

Wholesale prices can shift overnight, particularly around month-end, and smaller interior markets like Vernon can see sharper corrections if prices briefly fall below surrounding areas.

Tight supply from Pacific Northwest refineries or transportation constraints can also amplify short-term price movements.

While the precise trigger remains unclear, the evidence suggests Vernon’s sudden rebound was driven by local fuel market dynamics rather than world oil prices.