The prices for a litre of diesel and various grades of gasoline are seen on a gas pump at a Petro-Canada station, in Burnaby, B.C., Wednesday, March 2, 2022. Gas prices in Vancouver have hit a new high of more than $2.39 a litre at some stations, blowing past the previous peak set this summer. THE CANADIAN PRESS/Darryl Dyck

 

Gas prices in Vancouver hit a new high of more than $2.39 a litre at some stations Thursday, blowing past the previous peak set this summer.

One gas analyst said that’s a new all-time record for North America, and expects prices to continue to rise this week.

Dan McTeague, president of Canadians for Affordable Energy, said prices passed the previous record of nearly $2.37 a litre, set in Vancouver in June, due to the temporary shutdown of refineries in the U.S. Pacific Northwest and California.

McTeague said prices will likely rise again then drop fairly quickly once the supply issues are resolved.

“I don’t see the all-clear light at the end of the tunnel just yet. It’s going to happen and when it does it will be a dramatic drop, probably about 20 cents a litre, not in one fell swoop but very close to that over two or three days,” he said.

Gas prices jumped overnight across Canada by almost 20 cents in some places.

McTeague said no one could have predicted gas prices increasing at the speed they have over the past several days.

“The bottom line is that there’s not enough supply out there and however we got here, we’re going to have to spend a bit more time trying to figure this out because this is the kind of things that bring economies to a standstill,” he said.

According to the CAA’s price tracker, gas is up nationally by just over three cents on average at $1.58 per litre, with some provinces seeing higher jumps than others.

The CAA says the average gas price across Vancouver was $2.32 on Thursday.

This report by The Canadian Press was first published Sept. 29, 2022.

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0037 TED_DEEP_30_
  • 0036 Prairie Lithium - Chad Glemser 30 Sec
  • 0035 TED - Whitecap
  • 0034 TED_NA Helium 2021
  • 0033 Buffalo Potash Jared Small Footprint
  • 0032 IWS Summer hiring rock trailer music
  • 0029 Latus Viro updated Latus phone
  • 0027 TED_NA Helium 2021_30
  • 0025 Kendalls
  • 0026 Buffalo Potash Quinton Salt
  • 0023 LC Trucking tractor picker hiring mix
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0019 Jerry Mainil Ltd hiring dugout
  • 0018 IWS Hiring Royal Summer
  • 0014 Buffalo Potash What if PO
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0004 Royal Helium PO Ad 02
  • 9001
  • 0002