Metro Vancouver gas prices rise again on Sunday
Posted September 25, 2022 12:46 pm.
Drivers in Metro Vancouver are in for an expensive ride this Sunday as gas prices increase around 13 cents per litre.
With prices reportedly as high as $2.33 per litre of regular, it is a further shock for many after seeing a significant increase already this weekend.
Friday’s price saw an increase of about 25 cents in three days, whereas Sunday bumps the price to a rise of around 38 cents in less than a week.
The average at the start of the weekend was around $2.17 across the region, but it spiked again this morning at multiple stations.
Even if gas prices usually rise on the weekend, jumps like this are typically uncommon.
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However, one expert thinks the rise in price will continue.
“Unfortunately, this is the trajectory we’re now on,” says Paul Pasco, principal consultant with Kalibrate, based in Calgary.
In addition to high demand, Pasco explains one reason B.C. drivers pay so much is because the province is part of what’s called PADD 5, which is the regional breakdown of supply. It’s a pipeline which carries fuel to the west coast from the U.S. Gulf Coast and because it’s costly to transport it so far, Metro Vancouver drivers pay more for fuel.
“What I’m personally watching right now is what’s going to happen in the ethanol markets. B.C. would be the most impacted by that, given you have the tightest blending restrictions across Canada and if we see the yields continue to be low and the transport price continues to be hard, there is room for the price to increase,” added Pasco.
