Lower Mainland gas prices increase, could reach $2.30 by late spring: expert – BC

A small jump in gas prices was seen Thursday morning — an increase of about two cents overnight.

It adds to the increases seen over the past week, where prices began at $1.88 a litre.

Thursday morning, most prices around the Lower Mainland are hovering around $1.93.

“What’s driven prices up from $1.88 last week to $1.96, which we’re going to pay tomorrow, I’d say about two-thirds of that is apparent shortness, or a crunch, in the supply, (which is) not made any better by (Burnaby Refinery’s) ongoing disruption,” gas expert Dan McTeague said.

But, according to McTeague, that is a small increase compared with what’s to come in late spring and early summer.

“As we look at summertime demand, that tends to be a premium of 15 cents a litre.… The new normal this summer, or at least late spring, could begin at a $2.20 or $2.30 a litre range and for that reason, I think motorists need to be best prepared for this very unpleasant reality,” McTeague said.

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Burnaby refinery problems will boost gas prices

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