Advertisement

Metro Vancouver gas prices are on the rise again

According to GasBuddy.com, fuel prices in Metro Vancouver are expected to surpass $1.50/L by the end of the week.
According to GasBuddy.com, fuel prices in Metro Vancouver are expected to surpass $1.50/L by the end of the week. (AP Photo/Julio Cortez, File)

If your gas tank is looking a bit low, you might want to hit the pump before Wednesday.

GasBuddy.com analyst Dan McTeague predicts prices will continue to rise as high as $1.50/L.

“This time [last] Thursday, gas prices were in the high end $1.43 range,” McTeague said. “They went up a penny Friday and then another four cents on Sunday, some are seeing it this morning. All told, five plus another two cents means that we’ll be paying an additional seven cents a litre.”

READ MORE: Gas prices to reach 4-year high in 2018: report

“This time of the season doesn’t see high demand, and supply is usually very adequate,” McTeague said. “But [with] $1.52 as an average price here in Metro Vancouver, it looks like that might be exceeded as demand and supply tends to be constrained.”
Story continues below advertisement

He said the prices are spiking because the two refineries that supply gas to B.C. are shutting down for maintenance, leaving companies scrambling to stock up on their supply before April.

Meanwhile the Canadian Taxpayers Federation (CTF) says prices will go up again when the carbon tax rises again.

The group’s B.C. director says the carbon tax will go up to $35 per tonne April 1.

Kris Sims says that will add an additional $5 to the cost of filling up an average family sedan, and at least $10 for the average SUV or pick-up truck.

“It will impact everything that we do as far as shipping, or heating, or travelling goes.”

Sims says voters should fight back, saying the only time it will end is when the average person says ‘enough.’

With files from Global News reporter Janet Brown

Sponsored content