Metro Vancouver gas prices will hit an all-time high tomorrow.
According to Gasbuddy.com analyst Dan McTeague, local gas stations will see a new record of 164.9 cents a litre on Friday.
The previous all-time high? 163.9 cents per litre, which was set back in October of last year.
⚠️⛽️Alert: #Vancouver and the Lower Mainland ⛽️ prices have reached their highest since Oct 13. Tomorrow will see a new record @ 164.9 cts/l. Gasbars hiked their retail margin by an extra 2 cts and BC’s 1.16 ct rise in carbon taxes Monday made a bad situation worse
— Dan McTeague (@GasBuddyDan) April 4, 2019
The sharp increase in gas prices can be attributed to gas bars hiking their retail margin by an extra 2 cents and a price hike for the provincial carbon tax that took effect April 1st.
As a result, the carbon tax price hike adds 1.14 cents a litre increase for British Columbians when they fill up their vehicles. What this means is that the carbon tax is increasing from $35 per tonne of Co2 to $40 per tonne. In 2018, the first of four annual carbon tax increases took place.
Vancouver Gas Prices
There’s more bad news for drivers at the pump.
In a couple of weeks, gas stations will be switching over to summer-blend gasoline. This type of gasoline is approximately five cents a litre higher than the gasoline used during the winter months.
A quick search on GasBuddy shows that the cheapest gas price in Vancouver as of Thursday morning is 149.9.
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