Expect more pain at the pumps tomorrow.
The price of gasoline is going up.
Analyst Dan McTeague with monitoring site GasBuddy.com says wholesale prices have jumped south of the border, while production is down.
“The wholesale prices for gasoline took a bit of a rally yesterday on the U.S. markets and of course there are so issues around refinery production throughout the U.S. Northwest and that means we are being treated to what is about a 3.5 cent a litre wholesale price increase.”
He says that coupled with gas taxes will mean a five cent boost across the board.
But with the price of oil at all-time lows, why isn’t there more relief at the pumps?
“You rely on the U.S. and other sources for your market. We have pipelines that can’t bring enough gasoline to the Vancouver market so with all of the impediments Vancouver is a price taker.”
The price of gas is expected to increase from 99.9 to 104.9 / litre across Metro Vancouver at midnight tonight.