The cost of your tank is rising once again: The price at the pumps surged by five cents in parts of Metro Vancouver overnight.
GasBuddy.com says the average price in the Lower Mainland has jumped from about 99 cents a litre, to just below $1.05 at most stations.
B.C is on the high end compared to the rest of the country, and analyst Dan McTeague says there are a lot of factors working against us, including a decline in inventory and an increase in the wholesale price of gas in the U.S.
“There isn't enough gasoline produced in the Lower Mainland to supply our regional needs,” he said.
“We rely a lot on the American supply, the weakness in the Canadian dollar - all these things are the perfect storm.”
The national average is hovering around 83 cents. In Alberta, they're seeing prices as low as 54 cents a litre; in Toronto prices were at 87.1 on Friday.
Despite the five cent increase Lower Mainland drivers may want to consider filling up now – McTeague says it looks like prices are expected to jump again this weekend.
“It looks like there could be another two cent a litre increase come Sunday,” he said. “If you don't like [prices at] 104.9, you won’t like 106.9.”
GasBuddy.com has predicted prices will go back down – but probably not for another two weeks.
With files from CTV Vancouver’s Sheila Scott
