Gas prices rose across the Metro Vancouver region overnight to $1.70 a litre for regular gas Thursday morning.
“Oil prices have continued to rise, they’re back to $70/bbl, but also we’ve seen a drop in supply of non-California gasoline in the Pacific Northwest,” Patrick DeHaan, head of petroleum analysis at GasBuddy, told 1130 NewsRadio.
That means Vancouver and much of B.C., Washington state, and Oregon are seeing higher prices. The rise in oil is also impacting diesel prices.
“It may be a week or two before we see some relief, but it shouldn’t be elevated too long, barring refinery issues or major shifts in the trade situation,” DeHaan added.
Related:
Trade with the U.S. is sticky right now. A firm deadline to strike a new deal with our southern neighbours falls on Aug. 1, and late Wednesday, U.S. President Donald Trump issued a fresh threat as he took to Truth Social to say it will be hard to sign a new deal after Prime Minister Mark Carney confirmed Canada will recognize a Palestinian state, with some conditions, in September.
Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them. Oh’ Canada!!!(TS: 31 Jul 00:29 ET)…
DeHaan says the other factor to consider is hurricane season affecting refineries in the U.S., which supply fuel north to Canada.
Last week, gas prices in Metro Vancouver came down just over three cents, which was on par with the national average.
