Gas prices hit all-time high in Metro Vancouver
Published Saturday, October 13, 2018 7:24PM EDT
Gas prices in Metro Vancouver reached an all-time high Saturday, with numerous gas stations in the region charging 163.9 cents per litre.
The previous record, 161.9 cents, was set in April and tied again on Friday. According to the Canadian Automobile Association, the national average for gasoline prices on Saturday was 124.4 cents per litre.
The dramatic price spike in Metro Vancouver follows a pipeline explosion near Prince George, B.C. on Oct. 9 that put two natural gas lines operated by Enbridge out of service.
According to GasBuddy.com analyst Dan McTeague, the recent pipeline explosion has led to gasoline production reduction and thus higher prices at the pumps.
"That's caused markets to respond rather dramatically," McTeague told CTV Vancouver. "It speaks to the volatile nature of production and supply and demand in the Pacific Northwest market."
Metro Vancouver drivers already pay some of the highest gas prices on the continent.
"My truck is a gas guzzler and it's getting ridiculous," driver Ashley Jacobson told CTV Vancouver on Friday. "It's just crazy, especially because I'm planning a long trip and the last thing you want to do is spend so much money on gas, am I right?"
Analysts expect Metro Vancouver to experience abnormally high gas prices for several more days before reaching more normal levels in about a week’s time.
With a report from CTV Vancouver