Canada: Metro Vancouver: Lower Mainland gas prices could hit $2.30/L by mid-April: expert
Posted: Sat Apr 06, 2024 6:21 pm
Canada: Metro Vancouver: Lower Mainland gas prices could hit $2.30/L by mid-April: expert
Read more here:
https://vancouver.citynews.ca/2024/04/0 ... -30-april/
Gas prices have been steadily climbing around the Lower Mainland this week and it’s about to get much more expensive.
Initial predictions had drivers in Metro Vancouver paying $2.30 a litre for regular gas by the May Long weekend, but that prediction has been moved up to mid-April — just a couple of weeks away.
“It’s aggravated by the fact that refinery maintenance is not yet wrapping up. In fact, a couple of refineries in Washington state are still undergoing maintenance. That’s the big wildcard, is will that maintenance be done as expected or will it take longer?” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Supply is growing rather tight in the Pacific Northwest right now.”
“The average price now is well above the $2 a litre mark and just about ready to jump over last year’s peak of $2.15 a litre,” he adds.
De Haan explains there are a few reasons for the increases, including the recent increase to B.C.’s carbon tax on Apr. 1.
“The price of oil is at its highest level since October of last year. Refinery maintenance is ongoing in areas of Washington state. Thankfully, the Parkland Refinery in Burnaby is back online — that’s going to help things in the next couple of weeks as supply does start to build up.”
Read more here:
https://vancouver.citynews.ca/2024/04/0 ... -30-april/
Gas prices have been steadily climbing around the Lower Mainland this week and it’s about to get much more expensive.
Initial predictions had drivers in Metro Vancouver paying $2.30 a litre for regular gas by the May Long weekend, but that prediction has been moved up to mid-April — just a couple of weeks away.
“It’s aggravated by the fact that refinery maintenance is not yet wrapping up. In fact, a couple of refineries in Washington state are still undergoing maintenance. That’s the big wildcard, is will that maintenance be done as expected or will it take longer?” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Supply is growing rather tight in the Pacific Northwest right now.”
“The average price now is well above the $2 a litre mark and just about ready to jump over last year’s peak of $2.15 a litre,” he adds.
De Haan explains there are a few reasons for the increases, including the recent increase to B.C.’s carbon tax on Apr. 1.
“The price of oil is at its highest level since October of last year. Refinery maintenance is ongoing in areas of Washington state. Thankfully, the Parkland Refinery in Burnaby is back online — that’s going to help things in the next couple of weeks as supply does start to build up.”