Gas expert predicts price hike in Kelowna in next 24 to 48 hours

Fuel up now while gas is still relatively cheap, because change is coming, according to a gas expert.

Earlier in the day, gas in Kelowna was selling at $1.099 a litre. But by 5 p.m., some stations had prices of $1.219.

WATCH BELOW: (Aired Jan. 4, 2019) Experts wary of longevity of low gas prices

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“It means for us here in Kelowna, if I have a gas bar, it’s going to cost me about $1.11 a litre for the gasoline I’m selling at $1.09. That is something we rarely see here in Kelowna. Most gas stations have operated on a 12-cent a litre retail margin, which means prices could start to trend up above the $1.20, maybe the $1.22 mark, once that happens.

“Now, to be sure, there’s a lot of gasoline in the system, but it does suggest that in the next 24 to 48 hours, we’re going to see a spike of at least 10 cents a litre in Kelowna.”

Prices per litre at most gas stations of 5 p.m. on Wednesday, Jan. 30, 2019, according to GasBuddy:

BRITISH COLUMBIA:

• Kelowna: $1.099
• Vernon: $1.099
• Penticton: $1.079
• Osoyoos: $1.129
• Merritt: $1.169
• Kamloops: $1.099
• Williams Lake: $1.199
• Quesnel: $1.169
• Prince George: $1.089
• Fort St. John: $1.139
• Dawson Creek: $1.139
• Terrace: $1.189
• Prince Rupert: $1.189
• Trail: $1.217
• Cranbrook: $1.169
• Fernie: $1.084
• Hope: $1.189
• Chilliwack: $1.199
• Abbotsford: $1.139
• New Westminster: $1.259
• Surrey: $1.249
• Vancouver: $1.229
• North Vancouver: $1.229
• Victoria: $1.279
• Nanaimo: $1.139
• Courtney: $1.259
• Campbell River: $1.309

ALBERTA:

• Calgary: $0.929
• Edmonton: $0.889

SASKATCHEWAN

• Regina: $0.949
• Saskatoon: $0.969

MANITOBA

• Winnipeg: $0.894
• Brandon: $0.976