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'We got a head fake this week': Gas prices in B.C.'s Lower Mainland take unexpected leap


The yo-yoing gas prices in B.C.'s Lower mainland continues with fuel jumping nine cents Thursday morning.

Many stations across the region now have gas sitting at around 211.9 with an additional six cent increase expected on Friday.

Dan McTeague, gas analyst and the president of Canadians for Affordable Energy, tells CTV News that refineries on both sides of the border discounted their winter inventory which dropped prices earlier in the week to around the $2 mark but now markets are reacting to demand.

"We got a head fake this week," said McTeague.

He went on to explain that the Pacific Northwest is not alone: the higher prices are an issue for the entire West Coast from California to B.C., due to area refineries having troubles producing gas. A trickle-down effect is creating a volatile market that McTeague says is difficult to forecast.

"This market is extremely volatile and it could drop but the likelihood is that there will be a continuation of upward pressure," said McTeague.

"Supply could be affected in the next couple weeks by the anticipated shutdown of the BP Olympic pipeline we could see a spike of another five or 10 cents."

McTeague went on to say that this time last year, fuel prices in Metro Vancouver were around 30 cents less per litre. Top Stories

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