Metro Vancouver gas prices rise to highest level in months
Posted August 28, 2023 7:42 am.
Last Updated August 28, 2023 4:41 pm.
Gas prices around Metro Vancouver have risen once again, with a litre of regular going for the highest level in several months Monday.
Some stations were posting 213.9/l of regular gas to start the week.
According to GasBuddy, average retail prices in the Vancouver area have risen three cents a litre in the past week, with the average hitting 207.9 on Sunday.
“This compares with the national average that has fallen 0.3 c/L in the last week to 168.45 c/L,” the tech company said Monday.
“Including the change in gas prices in Vancouver during the past week, prices yesterday were 17.2 c/L higher than the same day one year ago and are 10.3 c/L higher than a month ago. The national average has increased 3.3 c/L during the last month and stands 6.9 c/L higher than this day one year ago.”
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Patrick De Haan, head of petroleum analysis for GasBuddy, says an unexpected outage at a large oil refinery in Los Angeles has led to prices at the pump spiking along the west coast of North America.
“That’s not only having implications on gas prices in Canada and the U.S. but through the region. Until that refinery issue can get cleared up, unfortunately, it is having a negative impact on the wholesale price of gasoline,” he told CityNews.
He says the price at the pump will remain above $2/litre for the next few weeks,”
“There’s not a whole lot that can be done right now simply because of the amount of extenuating circumstances that are leading to the predicament that we’re in,” he explained.
“I would hope that especially when we get into late September into early October, once we make the transition back to cheaper winter gasoline, I think we should see prices falling back under the $2/litre mark.”
Barring other unforeseen circumstances in the worldwide oil market, De Haan says prices should cool down once autumn arrives.
“I’m hopeful that we should eventually see the $2/litre prices disappear in the next few weeks and hopefully they won’t reappear until potentially next spring,” he said.
With files from Robyn Crawford
