Fill up as Lower Mainland gas prices are set to go up again

VANCOUVER (NEWS 1130) – If your gas tank is approaching empty, you’ll want to fill up now.

While prices went up $0.01 overnight, GasBuddy.com Senior Analyst Dan McTeague says the pain at the pump isn’t over just yet.

He thinks there may be another $0.02 increase late tonight that would push prices to $147.9/L for regular at many stations across Metro Vancouver. “I say might because sometimes we see on the weekends, some retailers tend to discount their retail margins just on Saturday and Sunday but they’re going to be delaying the inevitable until Monday morning.”

McTeague thinks that price will likely hold on until Wednesday and what happens after that depends on the market. “The $147.9/L looks like the high-end prices in Metro Vancouver. There are differences in prices as you head out of the area served by TransLink. If you go to Abbotsford, it’s always $0.11 or cheaper, simply because they don’t have the tax that we see in Metro Vancouver where there’s a transit tax and a pretty substantial one.”

He explains one of the reasons gas prices continue to go up is based on supply concerns in the Pacific Northwest in the US and right across that country.

McTeague adds we haven’t seen prices this high in Metro Vancouver since July 2014 and to add insult to injury, BC drivers pay some of the highest gas taxes across the entire country.

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