Gas prices in Victoria to get a seven-cent increase

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 said drivers in Victoria can expect a seven-cent increase 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.

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.”

 


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

 

Just Posted

‘Best in the country’: Formerly homeless man praises Victoria’s outreach services

Jay W. was living on the streets of downtown Victoria in 2018

Supreme Court Judge rules medicinal marijuana company must vacate farm in Central Saanich

Evergreen Medicinal Supply Inc must vacate no later than Aug. 31, 2019

Years of ‘horrific, violent accidents’ at Thetis Lake prompt plea to public

View Royal fire chief asks for an end to alcohol consumption at busy park

Victoria’s Royal Jubilee Hospital home to new cancer diagnostic suite

The Gordon Heys Family PET/CT Suite was unveiled at the BC Cancer Centre-Victoria

Unsealed record suggests U.S. man convicted in murder of Saanich couple left DNA on zip tie in 1987

William Talbott is set to be sentenced Wednesday in the murders of Jay Cook and Tanya Van Cuylenborg

Latest plan is to fly trapped fish by helicopter over Big Bar slide

Multi-pronged plan set in motion to freesalmon blocked by landslide in the Fraser River

Family of missing B.C. senior with dementia frustrated with situation, heartened by community support

Nine days since Grace was last seen the question remains: ‘How can an 86-year-old just disappear?’

Police ask for help locating missing men last seen in South Surrey

Jeep that Richard Scurr and Ryan Provencher were in has been located unoccupied in Logan Lake: RCMP

Surrey court clerk files human rights complaint related to concussion

Deborah A. Ryane claims her employer discriminated against her on basis of mental disability

Food fight: Liberals, Tories trade shots as pre-campaign battles intensify

Health Canada released an overhauled document that did away with traditional food groups and portion sizes

Okanagan Air Cadet challenges gender-exclusive haircut policy

Haircut regulation inspires challenge around gender identity

VIDEO: Bystander training gains traction as tool to prevent sexual harassment, violence

Julia Gartley was sexually assaulted after an event, and no one stepped in to help

Sexual assaults, extortion on the rise even as crime rates stay low: Stats Canada

Rates of police-reported sexual assault rose for the fourth year in a row

Most Read