VANCOUVER (NEWS 1130) – Just in time for the weekend, gas has hit another record high. Prices this Friday morning were up to about 1.69 per liter around parts of Metro Vancouver.
Increases at the pump in B.C. have been impacted by several factors in the past, including an increase to the carbon tax — which took effect April 1st — as well as shortages of gas and refineries running at reduced rates.
“It’s going to be a long summer,” Premier John Horgan said.
He’s spoken about a remedy for gas prices, but says that’s a long-term possibility — not a short term one. Besides, he adds most of the increase is beyond the province’s reach.
“I think this highlights for the public another spike in gas prices. There has been no tax increase this week, last week, and yet we’ve seen massive increases at the pump.”
— Greg Harper (@GS_Harper) April 12, 2019
Horgan says he’s tasked his deputy minister with investigating refining challenges at the one B.C. refinery and the province’s two suppliers: Washington state and Alberta.
“I think the travelling public absolutely understand that the issue here is not taxation specifically, it’s about a cumulative impact of a whole host of issues but at the root of it is significant increases in the price that is going to providers not going to government.”
About a third of pump price is tax — a portion of that is provincial.
On the first of the month, GasBuddy.com’s petroleum analyst Dan McTeague told NEWS 1130 he was predicting near record-breaking prices over coming weeks, and added: “$1.60 to $1.65 will be the new normal.”
Refineries switching over to summer fuels could also lead to increases.
Don’t forget to follow the NEWS 1130 Gas Tracker for the latest gas prices, and let us know what prices you come across at the pumps around Metro Vancouver.
-With files from Ash Kelly and The Canadian Press