WATCH: Gas prices on Vancouver Island could decrease because of repairs to a previously-ruptured Enbridge pipeline, according to GasBuddy.
Gas prices on Vancouver Island could decrease in the coming days.
GasBuddy’s Dan McTeague says prices could drop by three to four cents, ending up below $1.40/L in Victoria.
Last month, gas prices in Victoria spiked by 15 cents, surpassing last April’s all-time high of $1.56/L.
That happened when four U.S. refineries had to shut down for maintenance, forcing B.C. to get gas from places like Indonesia, Singapore and Taiwan.
“Much of our supply, if it isn’t coming from the Trans Mountain, which we all know is plugged, has to come to the United States,” McTeague said. “And if they can’t supply, then we have to look across the ocean to get our supplies. We’re really the only region in the country that has that kind of vulnerability.”
But McTeague says the relief could be short-lived.
Trade sanctions against Iran could reduce crude supply worldwide, driving local prices back up again, and trade relations between the U.S. and China could also have an impact.
Calvin To
