The long weekend may be over, but holiday prices at the pump are going to remain for a little while longer.
According to GasBuddy.com analyst Dan McTeague, you can expect to keep paying long weekend rates for at least the next week.
McTeague said the sky-high prices are sticking around because of low production, a weaker dollar, and because the majority of our supply comes from south of the border.
“When we have a shortfall, which is often the case given the lack of production in our own backyard, what isn’t sent down by the Trans Mountain pipeline is often sourced from external regions,” he said.
“As we here in the Lower Mainland, Vancouver and Vancouver Island rely more and more on U.S. sources for gasoline, they’re willing to sell it to us, but at a much higher price given the fact that they have to look after their own backyard before supplying other regions.”
McTeague adds with the U.S. markets will be closed Wednesday for Independence Day, so not much activity will be taking place.