'Fasten your seatbelts': Metro Vancouver gas prices predicted to spike during refinery shutdown
CTV
Gas prices in Metro Vancouver spiked over the weekend, and one expert says they will continue to rise until the Parkland Refinery resumes operations.
Gas prices in Metro Vancouver spiked over the weekend, and one expert says they will continue to rise until the Parkland Refinery resumes operations.
Analyst Dan McTeague says drivers in Metro Vancouver Sunday could expect to see prices at the pump an average of nine cents per litre higher than they were on Friday. The Burnaby refinery is expected to remain shuttered for at least another few weeks, meaning a tightening of supply and a corresponding rise in prices.
"We may very well continue to see upward pressure on gasoline prices and to a lesser extent diesel for the balance of the month of February. So, fasten your seat belts things are about to get a little bit more expensive and perhaps uncomfortably so for many," McTeague told CTV News.
"Until the refinery can signal that it's prepared to come back online, prices are going to continue to rise."
McTeague predicts that prices will rise to approximately 184.9 cents per litre by the end of next week. While the price increase is bad news for anyone who has to fill up. He also says the refinery shutdown comes at a relatively opportune time of year. If this happened in the busy summer season, he says, the impact would likely be far greater.
The refinery stopped operations earlier this month, when extreme cold weather hit the region. During its restart last Sunday, an "issue" led to "elevated smoke, odours and particulate matter," according to the refinery's website.
The acrid odour that wafted over the area prompted complaints, a public safety advisory and an air quality bulletin.
