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Expect gas prices to jump says analyst

Drivers across BC are being warned about what Gasbuddy.com analyst Dan McTeague predicts is an impending jump in the price of fuel.

McTeague says wholesale prices for gas have climbed five cents in the last two days due to an unexpected demand on inventory.

He says that means gas stations in most parts of the province that are buying supplies for about a dollar a litre today, could push their retail prices as high as $1.20 a litre by the end of the day or tomorrow.

McTeague says despite oil price being relatively low there are fewer refineries producing gas, and that’s causing supply issues.

Prices in much of Vancouver were already sitting at nearly $1.17 this morning, the highest in the country.

He expects retail prices to go up into the $1.20 range for the rest of the month, but says prices may dip in early July.

About Gene Law

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