You may have noticed significant gas price increases in Metro Vancouver over the past week or so – in some areas as much as 15 cents per litre in a matter of days.
The average price for gas throughout the Metro area was $1.16 per litre this past weekend and has now climbed to nearly $1.31 per litre with two or three cent increases on a nightly basis.
So what’s causing the sudden jump in price? Dan McTeague with gasbuddy.com told Vancity Buzz it’s because of pipeline issues in the United States.
“A very large pipeline that moves gasoline from refineries like B.P. at Cherry Point, Anacortes with Shell, that pipeline is down for repairs and maintenance for a period of about five days starting Sunday or Monday this week,” said McTeague.
Because of the pipeline disruption, wholesalers are scrambling to find gasoline to make up for the short supply from their regular suppliers.
Gas stations south of the border in Washington and Oregon are feeling the effects too and are seeing 10-cent-per-litre gains at the pump.
While this is a pre-emptive jump, McTeague doesn’t expect prices to increase once the pipeline is actually under maintenance unless B.P. exceeds the five day repair period.
“If that happens then you’re going to have people scrambling to find other alternatives to where they normally get gasoline from,” he said.
For up-to-date information on gas prices in Metro Vancouver, check out McTeague’s Twitter account, @GasBuddyDan.
GAS PRICE ALERT #Vancouver & Lower Mainland PUMP PRICES to RISE 5+ cents a litre overnight for Thurs Nov 5. Puts avg gas prices at 130.9 cpl
— Dan McTeague (@GasBuddyDan) November 4, 2015