On May 26, 2018, gas prices in Greater Victoria hit the highest price ever at 157.9 cents a litre for regular gas.
The price jump came after some temporary closures of some refineries in Washington state that supplied the province, North American refineries switching from winter fuel blends and a hike in B.C. carbon tax.
Now almost a year later, people in Greater Victoria are seeing similar prices across the region. GasBuddy.com is reporting some stations are at 157.9 cents a litre, 155.9 cents a litre or 153.9 cents a litre as of April 2, 2019. There are still some stations around the 144.9 cents a litre to 146.1 cents a litre price range but Dan McTeague, a senior analyst at GasBuddy.com, said prices will likely climb overnight.
McTeague said the price increase is partly due to the wholesale price climbing to about $1.48 a litre, which means gas stations will increase their retail margin. There is also B.C.’s carbon tax, which increased from $35 to $40 per tonne. McTeague said this will also affect prices. There is a supply squeeze related to shutdowns at two of the four refineries in Washington state.