Drivers all across British Columbia can expect to see prices of gas shoot up even further, thanks to an increase in BC’s carbon tax which took place on April 1, 2018.
Sadly, the higher prices are no joke. For those who don’t know, a $5 a tonne increase has been implemented by the provincial government. This translates to an additional 1.2 cents/litre increase, which is expected to last for several years.
While the rise in prices may not sound like a lot, industry expert Dan McTeague of GasBuddy explains that the carbon tax hike affects more than just your price at the pump. “It’s something that not a lot of people realize,” McTeague explains, that “this increase isn’t going to be something people can just shrug off.”
“It affects more than paying for fuel. Do you take a ferry? Do you take a plane? Do you take public transportation or take taxis?” McTeague asks while explaining that the carbon tax will have an effect on larger-scale methods of transportation as well.
The increase in the carbon tax creates a domino effect. In the long run, Vancouverites could even see the prices of their groceries go up – anything that gets delivered to a retailer on the back of a truck could be affected.
When asked about the future prices of gas, McTeague reminds us that Vancouver gas prices are expected to hit $1.60/litre sooner than later. In addition to the carbon tax hike, gas stations will be switching to a “summer blend” on April 15, 2018. The summer blend of gas has a pricier composition than the winter blend; drivers can expect to see prices increase by nearly four cents/litre from the switch alone.
According to McTeague, prices around the $1.50/litre mark have become the new reality. If you’re able to find gas at $1.48/litre or lower, that’ll be a pretty good place to fill up. He also shares that weekends are typically cheaper because gas stations will slightly reduce their price margins.
Is there any silver lining in Vancouver’s gas situation? It’s almost a guarantee that gas prices will be rising, rather than falling. If nothing else, it’s a good time to start carpooling.