Lower gas prices across North America, except for BC

VANCOUVER (NEWS 1130) – The recent nuclear deal with Iran has led to lower gas prices across much of North America, except for here in BC. And you shouldn’t expect a drop at the pump anytime soon, at least not until September when the summer driving season typically wraps up.

So, why have gas prices in Metro Vancouver stayed so high, when folks on the east coast are seeing a significant drop?

“The West Coast in particular is tight on supply because of some refinery issues south of the border. Even with some decreases in pump prices in other regions of the country, the West Coast is not coming down at the same rates,” explains Gas Analyst Michael Ervin.

“They exist within, what the industry, would be referred to as ‘different supply orbits.’ Supply and demand differences between those two regions can lead to some unusual variances in what would otherwise be a normal differential between those regions.”

Another reason we pay more is because BC has some of the highest gas taxes in Canada. “Consumers in the Lower Mainland are almost always going to paying more for gasoline because it’s one of the highest taxed regions in the country,” Ervin notes.

The average price nation-wide, according to GasBuddy.com, is about 20 cents cheaper than what you’re paying for on the Lower Mainland. “The summertime typically brings with it high but stable pump prices. The volatility is in the spring when we typically see whole sale prices go up and in the fall when wholesale prices go down.

Ervin adds give or take five to eight cents per litre, you can be expected to pay the price you’re seeing today.

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