‘Extremely painful’: Sky-high gas prices impacting B.C.’s transportation industry
For Mary and Konstantin Kleiner, who own a family-run moving and storing business in B.C., another surge in gas prices has hit particularly hard.
“It’s extremely painful,” said Konstantin. “I think we’re spending an extra $2,000 to $3,000 a month just on gas.”
And they're not the only ones whose ability to earn a living is being impacted
Uber driver Abdul Ahidarian tells CTV News he’s considering a new career.
“I don’t know what I should do,” he said. Despite working more than 10 hours a day, Ahidarian says he’s barely getting by.
“All day you’re driving for nothing,” he said.
On Thursday, gas prices in the Lower Mainland and Greater Victoria soared to 239.9 cents per litre. On Friday, the price went up again. Some stations in Vancouver were advertising a litre of regular for 241.9 cents, marking the second consecutive day the region set an all-time record.
Despite a slight dip Saturday, prices remained sky-high.
Analysts say the main cause for the recent spike in fuel prices in Metro Vancouver and beyond is a result of supply issues south of the border.
“The U.S. refinery production output on the west coast – so that’s Washington State, all the way down to California -- is down 15 per cent from normal,” said Dan McTeague, an analyst from Gas Wizard.
“All we can hope is that some of the unplanned shutdowns that have occurred over the past several months get fixed very soon,” added Paul Pasco, principal consultant at Kalibrate.
But that's not the only reason. A recent price surge in ethanol, the impacts of Hurricane Ian, plus a weakened Canadian dollar have contributed to the cost of gas across Canada, analysts say. B.C., however, remains on average, the costliest place to fuel up in North America.
“Gas taxes are the highest, bar none,” said McTeague, regarding the cost to fill up in Vancouver.
Despite the near 50-cent, record-setting increase over the past month, McTeague does forecast a decline.
“We could be back to $2.15 or $2.20 likely by the mid part of October, unless some other unforeseen event takes place,” said McTeague. “And there have been a lot of them.”
Months ago the NDP government provided British Columbians with a one-time rebate meant to offset the surging costs. CTV News reached out to the province to inquire if another round of financial support is being discussed.
“I understand that these major fluctuations in prices at the pump are a real challenge for people,” read a statement from Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation.
The statement also cited “two ICBC rebates” and removing tolls on the Port Mann and Golden Ears bridges as actions the government has taken to help drivers.
The emailed statement did not say whether British Columbians will receive additional support.
CTVNews.ca Top Stories
BREAKING Trudeau promises $1B in loans for child-care providers to expand care centres
The federal government is launching a new loan program to help child-care providers in Canada expand their spaces, and will be extending further student loan forgiveness and training options for early childhood educators, Prime Minister Justin Trudeau announced Thursday.
Spring allergy season has begun. Where is it worse in Canada?
The spring allergy season has started early in many parts of Canada, with high levels of pollen in some cities already. Experts weigh in on which areas have it worse so far this season.
'Nonsense:' Doug Ford slams lawsuits filed by Ontario school boards against social media platforms
Premier Doug Ford says that lawsuits launched by four Ontario school boards against a trio of social media platforms are “nonsense” and risk becoming a distraction to the work that really matters.
Several flight attendants from Pakistan have gone missing after landing in Canada
Multiple flight attendants from Pakistan International Airlines have abandoned their jobs and are believed to have sought asylum in Canada in the past year and a half, a spokesperson for the government-owned airline says.
N.B. man wins $64 million from Lotto 6/49
A New Brunswicker will go to bed Thursday night much richer than he was Wednesday after collecting on a winning lottery ticket he let sit on his bedroom dresser for nearly a year.
Multiple bridges in Calgary shut down for police incident
Calgary police have shut down a number of bridges into and out of the downtown core as officers deal with a distraught individual.
King Charles calls for acts of friendship in first public remarks since Kate's cancer diagnosis
King Charles III gave public remarks for Maundy Thursday, addressing the importance of acts of friendship, following his and Catherine, Princess of Wales’ cancer diagnoses.
Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud that unravelled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency.
A dog and a bird formed an unlikely friendship. Their separation has infuriated followers
Peggy is a stout and muscular Staffordshire bull terrier, and Molly is a magpie, an Australian bird best known for swooping on humans during breeding season, not for befriending dogs. But in an emotional video posted online, Peggy’s owners announced that the animals had been separated.