Gas prices are projected to shoot up this weekend, according to GasBuddy.com, so drivers in B.C. better fuel up now.
Analyst Dan McTeague predicted a one-cent rise per litre on Thursday, adding that many gas stations in Metro Vancouver are already seeing a three-cent-per-litre spike.
Gas Price Alert /Vancouver Island should expect a 7 cent/litre RISE at the pumps beginning today and into tomorrow (Thurs Mar 30)
鈥� Dan McTeague (@GasBuddyDan)
"My expectation of $1.40 will be easily exceeded,鈥� said McTeague. 鈥淎t the current $1.38.9, we鈥檙e at a 13-cent-per-litre retail margin. Tomorrow at this time, we鈥檒l be paying $1.41.鈥�
McTeague said it's mostly due to disruptions in two refineries in Washington state: Phillips 66 in Ferndale and BP Cherry Point.
High prices could last till the beginning of April, but drivers shouldn鈥檛 expect much of a reprieve even then.
In Case You Missed It.... as predicted, gas prices are RISING SHARPLY
鈥� Dan McTeague (@GasBuddyDan)
鈥淥n April 15, we switch from winter gasoline to summer gasoline, which means that refineries have to provide much more expensive fuel,鈥� he said. Summer gas has different additives to reduce volatility in higher temperatures.
鈥淲e have the dubious distinctions of having the most expensive place to drive a car in North America,鈥� said McTeague, noting the gas taxes in Translink-served areas.
He doesn鈥檛 expect prices to rise to $1.50 per litre the way they did in 2014, but does see $1.40 or $1.45 becoming the new normal over the summer.
鈥淲e鈥檒l see a lot more volatility like this throughout the summer,鈥� said McTeague. "Those are the highest prices we鈥檝e seen since June or July 2015."
Drivers in Victoria can expect a seven-cent increase as well, while the Okanagan has seen a hike of five to 10 cents already.
鈥淜elowna was at $1.12, and they鈥檙e seeing $1.17,鈥� said McTeague, because that region鈥檚 gas arrives from the midwest U.S.
Gas Price Alert George and many cities in should expect a 5-10 cent a litre increase @ the 鉀斤笍 beginning today
鈥� Dan McTeague (@GasBuddyDan)
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