Okanagan motorists are paying more at the pump and relief may not be coming soon.
Prices have jumped to nearly $1.40 per litre of regular grade at most stations in the valley.
That’s an increase of about 20 cents a litre in the past week.
It has been a few years since gasoline prices were this high.
Some analysts say the spike may be the result of a low Canadian dollar and a bustling U-S economy which is increasing demand stateside.
They also say the jump could be attributed to a pipeline rupture in the upper U-S midwest and two American refineries that were shut down for maintenance.
“All of western Canada is affected by these price increases,” says GasBuddy senior petroleum analyst Dan McTeague. “Wholesale prices for gas have gone up up 14 cents a litre whether you’re in Thunder Bay or on the Pacific coast. This is really a reflection of the demand spike we’re seeing for gasoline.”
McTeague says the earliest price relief at the pumps could come is late next week.
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