Why are Metro Vancouver gas prices so high? B.C.’s energy minister would like to know

Many drivers in Metro Vancouver are wondering why gas prices are at a record-high, including B.C.’s energy minister.

The price at the pump hit $1.82 per litre for regular Wednesday, and analysts say it could rise to $1.89 by April.

“I’m concerned about rising fuel prices,” Minister Bruce Ralston said.

In 2019, the BC Utilities Commission (BCUC) was ordered to complete an inquiry into spiking gas prices in the province.

“What the initial report found was that there was an unexplained 13 cents per litre that British Columbians were paying. The companies were asked to explain that. They never did.”

Ralston says the BCUC has been asked to get “retail price data.”

“This process is underway. It’s going to conclude in March of this year. [It will] come back and make recommendations to us about how we might better regulate the market for the benefit of British Columbians.”

Well, this hurts. 182.9 for a litre of regular in #Vancouver this Wednesday morning. #gasprices #1130gastracker pic.twitter.com/MLEUEe2uRj

— Hana Mae Nassar (@HanaMaeNassar) February 16, 2022

Roger McKnight, chief petroleum analyst with En-Pro International, calls it a “very, very volatile market.”

“Currently, prices are moving up but tomorrow they’re going down and I think the day after that they’re probably going to go up again. It’s all following the bouncing ball of the price of crude, it’s following the laws of supply and demand. There’s very tight supply and exceedingly high demand. And then we have refinery runs that are slowing down, getting ready for the potential driving season.”

Why are gas prices so high right now and what can you do?

Adding to the market forces at play, B.C. drivers also pay some of the highest gas taxes in the country. While drivers can;t control the price at the pumps, there are a couple of small things that can help.

Brett Delaney, owner-manager of OK Tire Langley, says while it may be tempting to try to make each tank last, there can be issues with driving around near-empty for too long.

“When it gets down into that last 15 to 20 per cent of the tank, then you have issues of compromising the fuel filter, or you might get some of the carbon left over in the tank sucked through the engine and could create even bigger issues.”

Related: Gas prices hit new highs around Metro Vancouver

Delaney adds you should keep an eye on your tire pressure.

“If it’s a regular kind of vehicle, I usually like using 35psi,” he explained. “If it is a vehicle that is equipped with the tire pressure monitor system … You don’t want it to get too low because then the vehicle will result in drag, which will obviously take more of your fuel economy, as well.”

He also recommends you keep up with vehicle maintenance in order to get the best fuel efficiency.

With files from HanaMae Nassar