(File photo)

Gas prices to drop five cents by Friday

Analyst says refineries are kicking into high gear

Can you stretch your gas till Friday? You should try, according to Gas Buddy.com’s senior analyst.

“We’ll be down to 131.9 [cents a litre] as of midnight Thursday night,” said Dan McTeague, adding cities outside Metro Vancouver could see prices dip into the mid 120s.

That’s down from a high of 147.9 cents in early November throughout the Lower Mainland.

“Much of that decline has to do with refineries in the U.S. building up inventory, particularly in the Pacific Northwest, who have been troubled by every plague imaginable,” said McTeague. “High demand, low inventory and refinery and pipeline issues…”

Output rates for the region’s refineries have gone from 84 per cent up to 92 per cent – a million-barrel surplus, according to the U.S. Department of Energy.

“There’s no ifs, ands or buts. The reality is that prices are plummeting because there are increasing stockpiles, finally, of gasoline,” McTeague said.

He’s got another tip: gas is cheaper on the weekend.

“The retailers tend to shed that 12.5-cent retail margin that they charge,” he said. “They sometimes knock three or four cents off.”


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Opioid overdoses killing three people a month in Chilliwack

35 deaths in 2018 locally compare to 23 in 2017, 13 in 2016 up from about five per year before that

More people in Chiliwack coming in to shelters to get out of the cold

Ruth and Naomi’s went over-capacity this week to accommodate shelter guests coming in from the cold

Agassiz break and enter suspect arrested

The Chilliwack man faces charges relating to break and enters throughout Agassiz

Outdoor rink, lagoon improvements on the agenda for Harrison

The projects are intended to increase tourism numbers and infrastructure in the resort village

Chilliwack parent urges fellow dog owners to keep Fido off school grounds

Risks of harmful encounters between kids on and dogs are too high, says Chilliwack mom

VIDEO: Canada’s flag turns 54 today

The maple leaf design by George Stanley made its first appearance Feb. 15, 1965

Eight cases of measles confirmed in Vancouver outbreak

Coastal Health official say the cases stem from the French-language Ecole Jules Verne Secondary

Prominent B.C. realtor says he doesn’t know how child porn got on his computer

Closing arguments heard in Ian Meissner’s Chilliwack trial for accessing, possessing child porn

Plecas won’t run in next election if B.C. legislature oversight reforms pass

B.C. Speaker and Abbotsford South MLA says he feels ‘great sympathy’ for Jody Wilson-Raybould

Workshop with ‘accent reduction’ training cancelled at UBC

The workshop was cancelled the same day as an email was sent out to international students

Former B.C. premier Gordon Campbell accused of sexual touching

Accuser went to police, interviewed by Britian’s Daily Telegraph

Avalanche control planned tomorrow on Highway 1

The highway will be closed in the morning east of Revelstoke

Judge rules Abbotsford home must be sold after son tries to evict mom

Mom to get back down payment and initial expenses

Mayors approve SkyTrain extension to UBC

Next step is a business plan and public consultation

Most Read