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Expect a spike in gas prices in spring of 2016: expert

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Summary

Gas prices will stay steady until a spike in March

VANCOUVER (NEWS 1130) – Last year was a volatile year for drivers dealing with fluctuating prices at the pump, so what does 2016 have in store?

Experts are predicting things should remain stable for the first couple of months before a major spike. That increase will likely be around March, lasting through the spring and summer thanks to the usual busy driving season.

Dan McTeague, senior analyst with GasBuddy.com, says prices overall in BC will depend on the unstable loonie and refineries in Washington State.

“Wise drivers are simply going south of the border to buy more gasoline than they have ever done in the past so demand will also have a factor here if crude can somehow find its footing and the dollar is not impacted severely.”

He adds BC does get some gas from Alberta, but we rely heavily on Washington State where there are several refineries closed right now. “I think right up until February the price you see will probably come down about five to seven cents a litre. It’ll probably be around the $1.15/litre to $1.20/litre range but I don’t believe these refineries will be down forever.”

Something else that impacts the price at the pump in BC, we pay some of the highest gas taxes in the country.