Gas prices in Langley rose past the $1.50 mark for the first time since 2013 on Wednesday morning, with some stations charging as much as $1.51.9 a litre for regular gasoline.
By mid-morning, according to the gasbuddy.com website, most Langley prices had fallen back below the $1.50 mark, with most running between between $1.35 and $1.45.
As Canadian gas prices have risen, so has the number of Canadians crossing the border in search of lower prices.
On Wednesday, a Langley driver could save as much as 50 cents a litre by taking the Aldergrove border crossing to Lynden, based on a comparison of the most expensive Canadian and least expensive U.S. gas stations.
In Lynden, the ARCO station at 8247 Guide Meridian Road is just a few minutes from the Aldergrove border crossing.
Owner Youn Yang estimated there has been a substantial increase in the number of B.C. licence plates at her pumps in recent weeks.
“About 30 per cent,” she said.
Yang said business dropped when the Canadian dollar lost ground against the U.S. currency, but has been picking up lately, likely because of the gas price disparity.
At Midway Gas and Food in Lynden, staffer Joellene Mayshack said there had been a “noticeable” increase, but couldn’t be more precise.
Dan McTeague, senior analyst with the GasBuddy website, was predicting Lower Mainland gas costs could go as high as $1.54 by Saturday or Sunday.
With demand for oil at an all-time high globally, petroleum analysts say B.C. consumers should expect to see some of the highest prices they’ve ever seen at the pump this year.
In GasBuddy’s 2018 forecast report, it says “circumstances beyond Canada’s control,” such as a surging U.S. dollar versus a weaker loonie and the U.S.’s growing exports, will lead to premium prices across the country.
Other major factors include OPEC’s 2016 decision to cut oil production