Metro Vancouver gas prices expected to climb well above $2/L
Just after midnight Monday, the price for gasoline at stations throughout Metro Vancouver climbed above $2 per litre, before dipping ever so slightly below the two-dollar mark.
It is not a record high, but the fact it’s still only March “does not bode well,” because historically prices peak around April or the May long weekend, according to an analyst.
The most recent hike is being blamed on the switch from winter to summer gasoline.
To help cars start in cold weather, winter fuel contains butane which is relatively cheap, but generally not recommended for summer driving.
“That butane when burned in warmer temperatures, contributes to low-level ozone which you don't really want in cities where there are potentially hundreds of thousands of vehicles running around, including Vancouver,” said Patrick De Haan, petroleum analyst at GasBuddy.
“You’d probably noticed it in air quality,” he said.
This is also considered the shoulder season, when refineries are doing maintenance in anticipation of the switch in gasoline.
That means they aren’t producing as much fuel, and of course when supply is low, prices go up.
“It's also the fact that across Canada and the United States, there’s not just one type of summer gasoline but over a dozen, so it's a logistical challenge to get the gasoline to where it needs to go in time for that summer gasoline switch over,” explained De Haan.
As for how high the price at the pump will rise, De Haan warned that if there is an issue at one of the refineries, we could see the cost of gas climb 20 to 30 cents more per litre.
CTVNews.ca Top Stories
Cyclist issued fine for striking four-year-old girl crossing the street
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
Which Canadian cities have the highest and lowest grocery prices?
Where you live plays a big factor in what you pay at the grocery store. And while it's no secret the same item may have a different price depending on the store, city or province, we wanted to see just how big the differences are, and why.
Dutch contestant kicked out of Eurovision hours before tension-plagued song contest final
The Netherlands' contestant in the Eurovision Song Contest was dramatically expelled from competition hours before Saturday's final of the pan-continental pop competition, which has been rattled by protests over the participation of Israel.
opinion How to use your credit card as a powerful wealth-building tool
Irresponsibly using a credit card can land you in financial trouble, but personal finance columnist Christopher Liew says when used properly, it can be a powerful wealth-building tool that can help grow your credit profile and create new opportunities.
'We have no judge for you': Man's assault charges dropped weeks before trial due to lack of judges in Toronto
A man who was accused of sexually and physically assaulting a woman had his charges dropped in April, just weeks before he was set to stand trial in Toronto, due to a lack of judges in the region.
Protest encampment cleared by Edmonton police early Saturday morning
A protest encampment set up on the University of Alberta campus was cleared early Saturday morning by Edmonton police.
Millions of Canadians have been exposed to potentially toxic chemicals, and they're not going anywhere
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
Out-of-control wildfire prompts evacuation alert for Fort McMurray, Saprae Creek Estates Friday night
An evacuation alert was issued for two Wood Buffalo communities Friday night, as crews battled an out-of-control wildfire near Fort McMurray.
Tips to make a house or apartment safe and accessible for older adults living at home
Here's a summary of tips from the U.S. National Institute on Aging and AARP, which offers a free room-by-room guide with practical suggestions for older adults living independently.