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

Self-Driving ‘Sailbot' Returns Home To Vancouver After Being Lost At Sea

Self-Driving ‘Sailbot' Returns Home To Vancouver After Being Lost At Sea
She lost her sail and has a few scratches, but a robotic sailboat has returned home in relatively good condition after being lost at sea.

Self-Driving ‘Sailbot' Returns Home To Vancouver After Being Lost At Sea

Liberals Pour More Money Into Tax Filing Program For Homeless, Newcomers

In just over a week, six volunteers will start filing up to 500 tax returns for people with little to no income at the Shepherds of Good Hope homeless shelter in downtown Ottawa.

Liberals Pour More Money Into Tax Filing Program For Homeless, Newcomers

Regulator Rejects B.C. Government's Promised Hydro Rate Freeze

Regulator Rejects B.C. Government's Promised Hydro Rate Freeze
VICTORIA — Hydro rates in British Columbia will increase three per cent in April after the province's independent energy regulator overruled a government promise to freeze rates for one year.

Regulator Rejects B.C. Government's Promised Hydro Rate Freeze

Alberta Man Found Guilty Of Killing Family Appealing Conviction, Sentence

Alberta Man Found Guilty Of Killing Family Appealing Conviction, Sentence
CALGARY — An Alberta man found guilty earlier this year in the murders of his parents and sister is appealing his conviction and sentence.

Alberta Man Found Guilty Of Killing Family Appealing Conviction, Sentence

Trump Tariffs On Steel, Aluminum Would Have 'Significant, Serious' Impact: PM Trudeau

Trump Tariffs On Steel, Aluminum Would Have 'Significant, Serious' Impact: PM Trudeau
Trudeau, however, was not clear Friday about whether or not he's spoken to the American president since Trump announced the planned tariffs on Thursday.

Trump Tariffs On Steel, Aluminum Would Have 'Significant, Serious' Impact: PM Trudeau

Parole Board Of Canada Puts Conditions On Edmonton Hostage Taker's Release

Parole Board Of Canada Puts Conditions On Edmonton Hostage Taker's Release
Patrick Clayton was sentenced to 11 years after pleading guilty to hostage taking, pointing a firearm and possession of a weapon for a dangerous purpose for the 2009 standoff at the Worker's Compensation Board office.

Parole Board Of Canada Puts Conditions On Edmonton Hostage Taker's Release