Lower Mainland drivers should get used to the price hike at the pumps they felt Friday.
According to GasBuddy senior petroleum analyst Dan McTeague, gas prices went up three cents a litre, and another penny may be added Saturday or Sunday.
鉀斤笍 Price 馃毃 and the Lower Mainland to 馃憖 a 3 ct/l HIKE overnight @ the 鉀斤笍 tomorrow (Friday), followed by a 1 or 2 cent a litre increase for Saturday. Fill up today !
鈥� Dan McTeague (@GasBuddyDan)
While McTeague said prices could come down a little next week, 鈥淲e鈥檙e now getting to the point where gasoline and oil prices are starting to move back up.鈥�
In the month of March, he said we鈥檙e likely to see gas prices remain in the $1.30 range versus the $1.20 range that we鈥檝e had a glimpse of over the past few days.
McTeague pointed to Washington State production levels still being at 90 per cent, as well as the 鈥渙ver-subscribed Trans Mountain Pipeline鈥� as reasons for the rise.
鈥淎ny type of disturbance on market tends to impact us more unevenly here in the Vancouver, Lower Mainland and Vancouver Island markets,鈥� he said.
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Worse, McTeague said we are likely to reach back to the $1.50 or $1.60 range come April.
鈥淎s we get closer to April, the provincial government is increasing the carbon tax yet again by 1.16 cents a litre, and another two cents to pay for TransLink, so the days of cheaper gasoline one way or another are going to be fewer and farther between.鈥�
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On Friday morning, the average price for gas in Vancouver was 129 cents a litre.
However, 鈥渢here are some examples of where on the weekend you鈥檒l see gas stations sell for 12 cents less than that,鈥� he added. 鈥淭hat鈥檚 just gas stations playing with their retail margin.鈥�
According to GasBuddy, the Costco in 黑马磁力 looked to have the lowest price per litre (116.9 cents), followed by the one in Port Coquitlam (118.9 cents).
Listed stations in Port Moody had the highest prices (131.9 cents a litre).
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Be ready to wait if you fuel up on Friday: GasBuddy鈥檚 2018 foot traffic report released Jan. 31 found Fridays are the busiest day for fuel and convenience retailers.
鈥淚t is now confirmed that filling up at Costco on a Friday afternoon is the worst idea ever unless you enjoy waiting in line,鈥� GasBuddy analyst Frank Beard said in a release.
Busiest times are noon and 5 p.m.
karissa.gall@blackpress.ca
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