Fuel costs once again topped $2 per litre at some Vancouver Island gas stations on Easter Monday.
While the price at many stations across Greater Victoria hovered around 189.9 cents per litre, Petro-Canada stations in Colwood, Langford and Esquimalt Saanich rose to 201.9/L, according to online gas price tracker GasBuddy.com.
Average fuel prices in British Columbia have slowly been declining — hitting around 191.5/L Monday — after reaching a record-high of 202.5/L in the second week of March. In B.C.’s capital, that record average was even higher at 208.9/L.
Head petroleum analyst for GasBuddy.com, Patrick de Haan, said on Monday that the price of crude oil has jumped by about $14 per barrel in the past week.
“Likely the main factor behind the hike you’re seeing,” said de Haan in an email. “We could continue to rise as oil continues to rally.”
Prices have been reaching historic highs around the globe since Russia began its invasion of Ukraine, prompting sanctions that have disrupted the country’s oil exports, comprising 10 per cent of the world’s oil supply.
In B.C., the government has announced one-time rebates of $110 to all ICBC-registered drivers, and $165 for most commercial drivers, to ease the financial burden of surging fuel prices.
ICBC customers with a basic auto insurance policy during the month of February will be eligible for the $110 relief rebate, which most customers can expect to see in May if they are registered for direct deposit with ICBC or as a refund to their credit card. All other drivers will receive cheques in June.
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