Let’s be honest, we all love saving money whenever we can.
That is why the latest gas hike has cheesed off many residents in the Bulkley Valley and Lakes District (BVLD).
Last week, gas was sitting idle for most areas of the BVLD around $1.30 per liter.
Senior Petroleum Analyst with Gas Buddy, Dan McTeague, explains why gas is now hovering around $1.40 per liter.
“Some of the gas for the BVLD comes out of Prince George but most of it comes from the three Suncor refineries in Edmonton. Those refineries provide nearly 1/4 of the gas and diesel products to Western Canada. The Edmonton based refineries had a planned shut down for four weeks, however, they were closed for an additional two weeks after that, which caused some major fuel shortages across most of the province. Almost two weeks later, they continue to play catch up and that’s really the reason why gas prices have sky-rocketed over the last little bit.”
If you’re looking to save a few bucks at the pumps, McTeague says you may have to wait until after the long weekend.
“I’m a bit surprised that gas is above a $1.40 in the BVLD. It costs most stations around $1.27 to replace gasoline right now, which means they are making some high retail margins. Usually, it’s around 12-13 cents plus transport, so we’re honestly at the high end of the price cycle. I would expect prices to reduce after the Canada Day long weekend.”
McTeague finished by saying this situation really speaks to the importance of the upcoming Trans-Mountain pipeline project.
“It’s all about ensuring a more affordable and reasonable way to receive fuel shipments. It’s an important pipeline in the bigger picture and one has to be mindful that it’s not just a crude pipeline, it’s expanding to allow even more gasoline shipments to come from Edmonton, so we don’t run into these situations.”
For more information on the gas prices in your specific area, click here.