Gas prices in Metro Vancouver to hit $1.40 this weekend

Observer says B.C. drivers should expect prices per litre of around $1.40 or $1.45 all summer long

Gas prices are projected to shoot up this weekend, according to GasBuddy.com, so drivers in B.C. better fuel up now.

Analyst Dan McTeague predicted a one-cent rise per litre on Thursday, adding that many gas stations in Metro Vancouver are already seeing a three-cent-per-litre spike.

“My expectation of $1.40 will be easily exceeded,” said McTeague. “At the current $1.38.9, we’re at a 13-cent-per-litre retail margin. Tomorrow at this time, we’ll be paying $1.41.”

McTeague said it’s mostly due to disruptions in two refineries in Washington state: Phillips 66 in Ferndale and BP Cherry Point.

High prices could last till the beginning of April, but drivers shouldn’t expect much of a reprieve even then.

“On April 15, we switch from winter gasoline to summer gasoline, which means that refineries have to provide much more expensive fuel,” he said. Summer gas has different additives to reduce volatility in higher temperatures.

“We have the dubious distinctions of having the most expensive place to drive a car in North America,” said McTeague, noting the gas taxes in Translink-served areas.

He doesn’t expect prices to rise to $1.50 per litre the way they did in 2014, but does see $1.40 or $1.45 becoming the new normal over the summer.

“We’ll see a lot more volatility like this throughout the summer,” said McTeague. “Those are the highest prices we’ve seen since June or July 2015.”

Drivers in Victoria can expect a seven-cent increase as well, while the Okanagan has seen a hike of five to 10 cents already.

“Kelowna was at $1.12, and they’re seeing $1.17,” said McTeague, because that region’s gas arrives from the midwest U.S.

 

 


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

 

Just Posted

VIDEO: Burned Jeep matches suspect vehicle in two shooting incidents

Police discovered vehicle on fire overnight in Yorkson neighbourhood in Langley

VIDEO: One man suffers serious injuries in crash that closed Fraser Highway in Langley (updated)

One vehicle ends up in ditch after car and SUV collide, air ambulance called in

UPDATED: Gunfire erupts in quiet Langley neighbourhood early this morning

Police have 79A Avenue cordoned off after reports of shots just before 5 a.m.

Upgrades could be coming to popular Penzer Park in Langley City (with video)

Council considers a staff proposal that would move up construction of planned washroom, benches picnic tables and shelter

VIDEO: celebrating Diwali in Langley

Muriel Arnason library marks event for 14th time

VIDEO: Sears liquidation sales continue across B.C.

Sales are expected to continue into the New Year

5 to start your day

A South Surrey shooting, Team B.C. wins the 2017 WHL Cup and more

Justin Timberlake invited back to Super Bowl halftime show

A ‘wardrobe malfunction’ with Janet Jackson caused a national controversy during his last appearance

A scary box office weekend for everyone but Tyler Perry

‘Boo 2! A Madea Halloween’ scared up a healthy $21.7 million in its first weekend in theatres

Even as long-form census data returns, Statcan readies for day without it

Wednesday’s release is expected to show immigrants making up a larger share of the population

WATCH: 10,000 signatures gained to stop ‘no pets’ rental policy

Pets OK BC said about 1,700 animals were surrendered to the BC SPCA last year due to housing issues

Silver Creek reacts after remains found, man arrested

Neighbours of property where remains were found say man arrested was sweet and polite

VIDEO: Oprah Winfrey and a celebrities attend ‘B.C. Miracle Concert’

Fundraiser featured Foster, Steven Tyler, The Tenors, Matteo Bocelli, Laura Bretan, Carly Rae Jepsen

Human remains found at Silver Creek property

RCMP have been searching the property in the 2200 block of Salmon River Road for the past three days

Most Read