(File photo)

Gas prices to drop five cents by Friday

Analyst says refineries are kicking into high gear

Can you stretch your gas till Friday? You should try, according to Gas Buddy.com’s senior analyst.

“We’ll be down to 131.9 [cents a litre] as of midnight Thursday night,” said Dan McTeague, adding cities outside Metro Vancouver could see prices dip into the mid 120s.

That’s down from a high of 147.9 cents in early November throughout the Lower Mainland.

“Much of that decline has to do with refineries in the U.S. building up inventory, particularly in the Pacific Northwest, who have been troubled by every plague imaginable,” said McTeague. “High demand, low inventory and refinery and pipeline issues…”

Output rates for the region’s refineries have gone from 84 per cent up to 92 per cent – a million-barrel surplus, according to the U.S. Department of Energy.

“There’s no ifs, ands or buts. The reality is that prices are plummeting because there are increasing stockpiles, finally, of gasoline,” McTeague said.

He’s got another tip: gas is cheaper on the weekend.

“The retailers tend to shed that 12.5-cent retail margin that they charge,” he said. “They sometimes knock three or four cents off.”


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Jacob Tremblay tells Langley film fest about playing a boy with facial differences

It was a long stay in a makeup chair, but it could have been even longer

CHAMBER WEEK: Langley president touts educational advantages

Membership has its privileges, as close to 1,000 members of the Langley chamber can attest.

VIDEO: A Langley man travels coast-to-coast to honour Canada’s national symbol

The “Beaver appreciation tour” was timed for country’s 150th birthday

PHOTOS: Slippery roads didn’t deter runners in the 11th annual Fort Langley marathon

Most registered runners and walkers still came out, despite ice from an overnight snowfall.

Rebels beat road-weary Giants

Vancouver was playing fourth game in five days

From Langley to PyeongChang: Local student is at the Olympics

Walnut Grove Secondary student Kevin Kim is at the Winter Games to create a multimedia project.

No charges for B.C. Mountie in car wash shooting

A report found the Salmon Arm officer fired 14 bullets at the man’s truck

Aldergrove Kodiaks facing playoffs elimination

Kodiaks are down three games in the best-of-seven series against the Ridge Meadows Flames

UPDATE: Man killed in targted Coquitlam shooting identified

IHIT also asking for information about 2018 grey Chrysler 300 on fire near the shooting

VIDEO: B.C. deer caught obeying traffic signs

A herd of deer in Fernie, B.C. is getting attention online after stopping for a stop sign

Petition wants fundraiser dropped for family of man cleared in Boushie’s death

Group says GoFundMe is profiting from the young Indigenous man’s death

Porch lights turn on for Canadian teen behind #BeccaToldMeTo movement

New Brunswick’s Rebecca Schofield had asked her Facebook followers to perform random acts of kindness

B.C. files challenge to Alberta wine trade ban

First formal dispute under Canadian Free Trade Agreement

NDP’s first budget to set spending record for housing, child care

Premier John Horgan promises biggest investments in B.C. history

Most Read