Experts warn that residents of British Columbia may soon see an impact on gas prices due to a major fire at a California refinery.
The recent blaze at a Chevron refinery near Los Angeles has been contained, but the repercussions are expected to reach far and wide. Gas prices, which had been stable over the weekend, are now forecasted to increase by seven to 15 cents per litre according to GasBuddy.com analyst Patrick De Haan.
De Haan highlighted a significant spike in wholesale prices on Monday, signaling an impending rise at local gas stations. He cautioned that the price hike could take effect as early as today.
The affected refinery, operational since 1911, plays a crucial role in refining up to 290,000 barrels of crude oil daily, producing gasoline, jet fuel, and diesel. Gasbuddy reports that it supplies 20% of motor vehicle fuel and 40% of jet fuel in the Los Angeles region.
In light of the expected price surge, drivers are advised not to rush to fill up their tanks preemptively as an increased demand could exacerbate the situation. As of Tuesday afternoon, regular gas prices in Vancouver start at $1.50 per litre.