Metro Vancouver drivers see another painful record as gas prices jump

VANCOUVER — The cost of fuel around Metro Vancouver is rising again, break previous record-high prices that were set only a week ago.

Prices at some Vancouver-area stations were listed at $1.68.9 per litre early Friday, a jump of more than one cent overnight and an increase of about five cents since last Thursday.

Analysts blame the trend on issues ranging from gas shortages to reduced capacity at refineries in the western United States as those facilities do annual maintenance or switch to summer-blend fuels.

An increase to British Columbia's carbon tax on April 1 also added about one cent per litre to the cost of gasoline.

After prices reached $1.64 per litre on April 4, Premier John Horgan pledged his government would monitor the situation, but he also said carbon and other taxes were not the only reasons for expensive fuel.

Dan McTeague, petroleum analyst with Gasbuddy.com, says wholesale gas sells for $1.56 per litre, so he doubts retail prices will drop soon, and just two weeks ago predicted drivers should expect “$1.60 to $1.65 will be the new normal.”

© 2019 The Canadian Press