Vancouver-area drivers pay more than ever as gas prices reach another record high

Vancouver-area drivers are paying more than ever before, as the average price climbed to a record high on Friday.

On average, the cost at Metro Vancouver pumps was up to 176.9 cents per litre. Prior to this new record, the highest average price was 173.9 cents back in July.

It's not only a high price for the region, but it's high for this time of year.

Around this time last year, drivers were paying less than 130 cents per litre at local pumps.

“It really has a lot to do with the temperature, the cold that is playing havoc,” said Dan McTeague, president of Canadians for Affordable Energy.

McTeague says the closures of the Parkland Refinery in Burnaby, which processes around 55,000 barrels of oil on a daily basis, and the HollyFrontier refinery in Anacortes, Wash., is the main issue.

“Colder weather has really made a challenge for refineries that are not used to sub-zero temperatures over extended periods of time,” he said. “These are very fragile, very well organized manufacturers, and for that reason, if there’s any variation that’s dramatic, it tends to have that affect.”

McTeague says there’s no need for consumers to panic.

“Today’s price is probably the high-water mark,” he said. “On Sunday, I’m expecting at least a four-cent decrease, and that price will stay in place until I think about Wednesday when well see further decline, barring any unforeseen circumstance.”