Gas prices jump up Wednesday morning around Metro Vancouver

Click to play video: 'Metro Vancouver gas prices are on their way up again'
Metro Vancouver gas prices are on their way up again
Petroleum analyst Dan McTeague talks about why gas prices are set to jump up 9 cents a litre on Wednesday – Sep 21, 2022

Gas prices took a significant jump around Metro Vancouver on Wednesday morning and experts say prices could increase further.

Most gas stations are now hovering between $1.93 an $2.00 a litre.

Analyst Dan McTeague with Canadians for Affordable Energy said tight supply along most of the west coast is a major factor, coupled with maintenance at the Phillips 66 Refinery, south of the border.

“We have an extraordinarily tight supply on the U.S. west coast, made worse by the fact that about a week ago the Phillips 66 Ferndale Refinery in Washington went down for maintenance,” McTeague said.

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B.C. gas prices are still quite a ways from the record high of $2.37 a litre seen in early June.

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But many experts attribute these soaring prices to supply issues and market destabilization.

The province’s response to the high prices was a one-time ICBC rebate of $110 for drivers, announced back in March.

McTeague offered a little advice for those who want to shave a few dollars off the cost of fill-ups.

“Evenings and weekends evenings (are) when gas stations shed eight cents a litre,” McTeague said.

“Don’t buy in the morning if you can avoid it. Usually, the evenings (are) better. (People) can save as much as four to eight cents a litre.”


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