Close X
Thursday, November 28, 2024
ADVT 
National

Lower Mainland Seeing Near-Record Gas Prices Amid Supply Constraints

The Canadian Press, 08 Mar, 2018 10:34 AM
  • Lower Mainland Seeing Near-Record Gas Prices Amid Supply Constraints
VANCOUVER — Gasoline prices in the B.C. Lower Mainland have hit $1.50 a litre and are near record highs, with at least one analyst saying they could climb further still.
 
 
Dan McTeague, senior petroleum analyst at GasBuddy, says a refinery outage in Burnaby is partially to blame for the recent spike in prices that have crested $1.50 a litre at some locations.
 
 
The 55,000 barrel-a-day Parkland Fuel refinery, which McTeague says supplies about a quarter of demand in the region, has been down for planned maintenance since early February and the company says it doesn't expect to have it fully running again until the end of March.
 
 
McTeague says southwestern B.C. is chronically short on all types of fuel, so it is especially vulnerable to price spikes when any source of supply is disrupted.
 
 
He says there are no easy solutions to the supply issues, so as gasoline demand increases into the summer months, any disruptions could send prices past the previous record of $1.56 in June 2014.
 
 
High taxes are also compounding the problems, says McTeague, with taxes making up 49.3 cents out of the 150.9 cent price per litre seen Wednesday, and another 1.2 cent per litre carbon tax coming in April.

MORE National ARTICLES

Two Surrey Men Charged With Murder In 2016 Death Of Vancouver Man

Two Surrey Men Charged With Murder In 2016 Death Of Vancouver Man
Surrey residents Gage McPake and Cody Stuiver are expected to appear in a Vancouver courtroom next Monday.

Two Surrey Men Charged With Murder In 2016 Death Of Vancouver Man

Overdose Deaths In B.C. Increase In January; Most In Vancouver, Victoria, Surrey

Overdose Deaths In B.C. Increase In January; Most In Vancouver, Victoria, Surrey
VANCOUVER — Illicit drug overdose deaths in British Columbia rose in January compared with December, with 125 people believed to have died from street narcotics or unprescribed medications.

Overdose Deaths In B.C. Increase In January; Most In Vancouver, Victoria, Surrey

Canada Well-Positioned To Handle Turmoil Over NAFTA Talks: Finance Minister

Canada Well-Positioned To Handle Turmoil Over NAFTA Talks: Finance Minister
 A strong economy is allowing Canadian officials to push for a better deal in negotiations on the North American Free Trade Agreement, Finance Minister Bill Morneau said Tuesday.

Canada Well-Positioned To Handle Turmoil Over NAFTA Talks: Finance Minister

David Eby Says ICBC Shift Involves Rewarding Good Driving, Penalizing Poor Driving

Major shifts in direction are being considered to ensure good drivers in British Columbia receive lower insurance rates, says the minister responsible for the province's public auto insurer.

David Eby Says ICBC Shift Involves Rewarding Good Driving, Penalizing Poor Driving

Bugs In The Grocery Aisle; Loblaw Adds Cricket Powder To Its PC Line

Bugs In The Grocery Aisle; Loblaw Adds Cricket Powder To Its PC Line
One of the country's biggest retailers is betting bugs are the next big thing in Canadian cuisine.

Bugs In The Grocery Aisle; Loblaw Adds Cricket Powder To Its PC Line

Jason Kenney Threatens To Limit Flow Of Oil To B.C., And Put Toll On Natural Gas

Jason Kenney Threatens To Limit Flow Of Oil To B.C., And Put Toll On Natural Gas
VANCOUVER — Jason Kenney, Alberta's Opposition leader and candidate for premier, says his government would ensure "serious consequences" for British Columbia if it blocks the Trans Mountain pipeline expansion.

Jason Kenney Threatens To Limit Flow Of Oil To B.C., And Put Toll On Natural Gas