Loading articles...

Gas prices are on their way up: expert

(iStock Photo)
Summary

Gas prices are expected to start spiking starting later this week according to a gas analyst

Average gas prices in BC are about $0.20 higher than the rest of the country

VANCOUVER (NEWS 1130) – Gas prices are going to start increasing now that we’ve hit spring and the Easter Long weekend, two factors that tend to drive a jump at the pump.

The bad news prices are going to start spiking starting later this week but the good news is they won’t be as high as we saw last year, meaning in the $1.50 a litre range for regular.

“We could see $1.20 a litre by the first week of April. It would take a lot of movement in the US refinery picture to force prices up another five or six cents above what we’re likely to see after April 1st,” explains Dan McTeague, senior analyst at GasBuddy.com.

He adds drivers should be keeping an eye on production at American refineries, like the one in Washington State, which the province gets a lot of its gas from.

“While we have higher taxes in Canada, it’s really the demand and supply picture south of the border that governs and dictates what we’re going to pay right here in the Lower Mainland and Vancouver Island,” he adds.

Average prices in BC are about $0.20 higher than the rest of the country, in part, because we pay some of the highest gas taxes in Canada.