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HomeNewsGas prices across RDBN remain on the high side in 2018

Gas prices across RDBN remain on the high side in 2018

Northern BC drivers aren’t digging as deep into their wallets to pay for gas these days thanks to a four cent decline the past two weeks.

However prices are fluctuating across the north as prices are as cheap as one 107.9 in Prince George and as expensive as 120.9 in the Bulkley Valley.

“What we’re looking at is a situation where prices are starting to moderate on the all-important benchmark with the price of gasoline being set in Chicago and that has gone down about 12 cents a gallon, good enough for a three or three-and-a-half cent decrease,” says Dan McTeague, Senior Petroleum Analyst with Gasbuddy.com.

However, the Regional District of Bulkley-Nechako remain on the high-side.

McTeague believes there’s a simple reason for the different prices.

“We do know here that in Prince George and to a lesser extent the Bulkley Valley and Vanderhoof, we do find that prices tend to be a little bit more competitive and we could see another two cent decrease between now and Monday.”

He expects prices to rise back up between March and April.

“At the latest should be April 15th we’ll see a pretty big spike and that’s because Canada will shift from making cheaper to make winter gas to a more expensive blend of summer gasoline and that usually adds about four-cents-a-litre on the wholesale side.”

It’s been an expensive year so far for gasoline as prices have been close to the dollar-fifteen range up until now, but even the first two months have been higher-priced than first thought.

“If I’m looking to this time last year, you’re paying about 10 to 13 cents a litre more for gasoline than in February of 2017.”

“It’s really a quiet time and people are generally expecting prices to fall during these two months, the fact that it has taken until the second week of February suggests to me that we could be in for a serious correction come March and April, look the world is clamping down on the over-supply of oil and there is no doubt that demand is vigours across economies like the United States is scheduled to continue and the demand picture down there is expected to continue.”

For a list of gas prices in the region, click here.

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