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Weekend Reads Vancouver gas prices highest in North America

21:05  07 march  2018
21:05  07 march  2018 Source:   vancouversun.com

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A gas pump is pictured in Vancouver , B.C., on Monday. Fuel prices in some parts of the lower mainland have reached an all-time North American high with prices expected to exceed .65 by the May on long weekend.

Former Liberal Member of Parliament Dan McTeague, who now heads the petroleum industry watchdog GasBuddy.com, told CBC News that Vancouver has the dubious honor of having the highest gas prices anywhere in North America , from Alaska to Mexico.

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Vancouver gas prices hit 150.9 cents a litre at some stations on Wednesday, and according to a prominent petroleum analyst, it’s likely to go up.

GasBuddy.com analyst Dan McTeague says the price has spiked 20 cents over the last couple of weeks. And, while this is not the highest price Vancouver has seen (it jumped to 156 cents a litre in July 2014,) it is the highest in North America.

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Vancouver gas prices hit 150.9 cents a litre at some stations on Wednesday, and according to a prominent petroleum analyst, it’s likely to go up. GasBuddy.com analyst Dan McTeague says the price has jumped 20 cents over the last couple of weeks.

Vancouver finds itself in first place on a lot of lists, but not always for a good reason. Case in point: Gas prices here are currently the highest in North America . “Taxes are also the highest in North America ,” he said. “At .439, total gasoline tax is 49.025 cents a litre. ”

McTeague says there are several factors contributing to the skyrocketing costs, including the declining Canadian dollar, a shortage of supply to the Lower Mainland, and a reliance on U.S. refineries, who are charging a premium for gas.

He says the Parkland refinery in Burnaby, which produces about 30 per cent of Vancouver’s fuel, is down for maintenance.

“So all these things combine to increase prices,” he said, adding that Vancouverites pay 49.4 cents a litre in taxes, which are the highest in North America.

Early Wednesday, McTeague said it was too early to say whether there was a chronic fuel shortage, but speculated that if there is consumers can expect another two-cent hike at the pumps.

He also said with spring maintenance coming up at most refineries, prices are likely going to remain high going into April.

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If you think Vancouver ’s gas prices are on the high side, you’d be right. “We’re number one by a long shot,” McTeague said. The region not only has the highest gas prices in the country, but all of North America .

Vancouver sits less than 750 miles from the Canadian oilsands but it may as well be on another continent for vehicle drivers. Gasoline prices in the Pacific Coast city hit .62 a liter (US.77 a gallon) on Monday, the highest in North America , according to Dan McTeague

 

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