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HomeNewsGas prices surpass $1.90 in the Bulkley Valley

Gas prices surpass $1.90 in the Bulkley Valley

The Bulkley-Valley and Lakes District continue to see an increase in gas prices, according to GasBuddy which is a tech company that gives out real-time gas prices across North America.

Most gas stations in the Smithers area are seeing prices at $1.95 per litre while the Esso on Highway 16 is nearly 25 cents cheaper at $1.69.

According to Petroleum Analyst Patrick De Haan, this is because the cost of oil has increased because of the sanctions that have been put in place against Russia.

He said it is possible we could still see gas prices rise even more.

“They could inch up a little more, maybe a few cents a litre but, the good news is that oil prices plummeted today (Wednesday), falling $15 a barrel, the wholesale amount of gasoline down a significant amount,” De Haan said.

He added that it could eventually bring relief but said there have been times where the energy markets have plummeted to only increase once again.

De Haan also said that demand is also contributing to the increase in the gas prices in the region.

“As temperatures warm up, as Canadians get out more and more, that is part of the reason why we’ve seen such a rally not only because of the Russia situation but, because prior to that demand had been recovering as the pandemic has eased,” he said.

De Haan added that it is possible for the region to see gas reach $2.00 a litre.

Meanwhile, gas prices in Houston are at $1.75 and in Burns Lake it’s at $1.93 at the Husky and $1.83 at the Mobil.

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