Gas prices to spike 5 cents/litre by Friday due to "tightening fuel supplies"

Feb 19 2020, 4:26 pm

Drivers in Metro Vancouver may want to consider filling up the tank sooner than later, as gas prices look to be on the rise over the next two days.

An industry insider tells Daily Hive the reason for the price hike is low fuel supplies below the border.

“Gas prices are on the rise over the next two days with a 2 cent/litre hike on Thursday, putting prices at 144.9 cents/litre for most of Vancouver,” says Dan McTeague, President of Canadians for Affordable Energy (CAE).

McTeague says that another 3 cent/litre increase is expected by Friday, which will drive prices to around 147.9 cents/litre across the Lower Mainland.

“It’s in response to tightening fuel supplies in Washington State and recognition that our own Parkland refinery in Burnaby is still undergoing scheduled repairs,” he notes.

Last April, gas prices around Metro Vancouver set a new North American record, posting highs of 172.9 cents/litre.

April 2019 saw the Lower Mainland break record prices in Canada and North America four times.

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