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

‘An officer and a gentleman’: Const. John Davidson is laid to rest

Thousands attend memorial service for slain Abbotsford Police officer

Photos: Rivermen sink Clippers

Game went into double OT

Hands-on history during Douglas Day at historic Fort Langley

Satchel and foot stool owned by Sir James Douglas put on display

Douglas Day celebration honours Langley’s pioneers

Theme of 159th anniversary celebration was history of transportation in the region

VIDEO: Langley bottle drive helps families fighting cancer

Team Keian event honours memory of six-year-old

VIDEO: Rare comic showing Superman’s 1st appearance to be auctioned

The 1938 comic features Superman hoisting a car over his head

VIDEO: Coquihalla closed both directions near Merritt

Detours are available via Hwy. 8 and Hwy. 1

VIDEO: The Last Jedi is going to be the longest ‘Star Wars’ movie yet

Newest movie in the franchise will beat Star Wars: Episode II - Attack of the Clones

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week.

PHOTOS: Procession and funeral for Const. John Davidson

Thousands attended celebration of life for Abbotsford police officer

B.C. Liberal leadership candidates debate different paths for party

Third debate held Sunday, Nov. 19 at Nanaimo’s Vancouver Island Conference Centre

Apology to Canadians persecuted for being gay coming Nov. 28: Trudeau

Thousands were fired from the military, RCMP and public service because of their sexual orientation

Heavy rains, winds hit B.C.’s south coast

Localized flooding, gusts up to 70 km/hr expected for the Lower Mainland and Vancouver Island

High winds cancel slew of BC Ferries sailings

Travel to and from Victoria and Vancouver as well as Northern Gulf Islands affected

Most Read