Arab revolts drive pain at the pumps

$1.30 a litre gas arrives again in Metro Vancouver

Gas prices in Metro Vancouver climbed to an average of $1.30 per litre March 4.

Average gas prices in Metro Vancouver climbed above $1.30 per litre Friday amid growing concerns about the potential disruption of crude oil supplies as a result of the Middle East crisis.

The pump price is now about 10 cents higher than it was a month ago and at the highest level since mid-2008.

Crude oil prices have shot up to well over $100 a barrel in anticipation the threat of revolution or civil war may spread to more countries as protesters try to topple Arab dictators.

Energy consultant Michael Ervin said retail gas prices could well climb higher this spring, typically the peak driving season when higher demand tends to lift prices.

That would certainly happen if oil prices also rise further, but could happen even if they stabilize close to current levels.

The highest price Metro Vancouverites have ever paid for gas was $1.50 per litre in July of 2008. Crude oil peaked at US $147 per barrel that same month.

Up to a million barrels of daily oil production is shut down in Libya.

Libyan oil typically goes to Europe, but buyers there will look elsewhere, driving up demand and prices on other sources.

Oil traders are also pricing in the possibility the pro-democracy revolutions may spread and cripple production at other oil-producing countries.

– with files from CTV

 

Vancouver Historical Gas Price Charts Provided by GasBuddy.com

 

Lowest Gas Prices in Vancouver

Vancouver Gas Prices provided by GasBuddy.com

Just Posted

Need is great for foster caregivers in Hope and Agassiz

Information sessions planned in both communities over next two weeks

COUNCIL BRIEFS: Hope may soon become a disc golf or ‘frolf’ destination

Also a new zone created in Hope, smoking bylaw adopted

Freezing temperatures expected in Lower Mainland

Snowfall warning ends, but surge or icy air to continue

Agassiz, Hope to get integrative home health care approach

Health teams to improve efficiency, effectiveness of care

Graduation rates drop across Fraser-Cascade school district

Fewer students finish high school in six years, but trustees say numbers are misleading

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

Update: Multiple vehicle incident closes eastbound Okanagan Connector

Highway 97C is closed to eastbound traffic near Pennask Summit following an incident Sunday afternon

#Metoo movement causing confusion in many men, fear of missteps with women: experts

Being painted by the same sweeping brush as those alleged to have mistreated women has angered men

Liberals to dig deeper, aim higher on gender equality in 2018 federal budget

Finance Minister Bill Morneau said the budget would include measures to boost women in the workforce

Late-winter snow storm blankets Lower Mainland

Some areas got up to half a foot of snow

Body of missing skier found

Man’s truck found in Revelstoke Mountain Resort’s parking lot covered in ‘several days’ snow’

B.C. VIEWS: Subsidy supercluster settles in B.C.

Ottawa, Victoria add to their overlapping ‘innovation’ budgets

Most Read