Wednesday, December 12, 2018Canada's Leading Online Business Magazine

B.C. Gas Prices Soar

gas-pump

CBJ — Drivers in British Columbia’s Lower Mainland are paying near record prices for gasoline, with a litre of regular unleaded going for about $1.50 and it’s possible they could still go higher yet. The upsurge is blamed on the effects of chronic fuel supply constraints.

The current spike, in a season of generally lower demand, is caused in part by the outage of a Burnaby, B.C., refinery that Parkland Fuel bought from Chevron in November.

The 55,000 barrel-a-day refinery has been down for planned maintenance since early February and the company doesn’t expect to have it fully running again until the end of March.

High taxes are also compounding the problems, making up 49.3 cents out of the 150.9 cent price per litre with another 1.2 cent per litre carbon tax coming in April.

Comparatively, prices for gasoline at the pumps in Calgary are about $1.09 per litre and $1.24 in Toronto.

@CanBizJournal

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