Lower Mainland gas prices down and could go lower
Posted October 1, 2017 11:37 am.
Last Updated October 1, 2017 11:39 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – Have you noticed gas prices have been down over the last couple of weeks around the Lower Mainland? We’re hearing they could drop even more.
GasBuddy Senior Analyst Dan McTeague thinks prices will go down soon after Thanksgiving, pushing them closer to $1.25 a litre for regular.
But he says the wholesale price, which is the one before taxes, is still really high at about 72 cents a litre.
“Still doesn’t really answer this simple question as to why such a disparity between global benchmark prices and what we’re paying in Vancouver.”
He adds that may mean there is a shortage of supply somewhere in the system and you’re paying for it.
“You’re looking at premiums now about 18 cents a litre, which is astronomically. Normally they’re about 12 to 13 (cents), sometimes 15, but never 18.”
A lot of our fuel comes from refineries in the US and McTeague adds there’s always maintenance on them, which could also impact prices.
BC drivers pay some of the highest gas taxes in all of North America.
