(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

Corruption no longer dogs Yale First Nation

A return to traditional governance helps to turn the tide

Emil Anderson earns multiple provincial contractor awards

Family-run companies with a long history in the FV were recognized for excellence in grading and community service

#MeToo at work: How reporting sexual harassment works – and how it doesn’t

British Columbians have four options to report harassment or assault, but none of them are easy

Chilliwack-Hope MP gives a pre-Christmas ribbing in rhyme in Parliament

Conservative Mark Strahl gets his poem in before Liberal Rodger Cuzner rises to do same

#MeToo at work: B.C. women share horrifyingly common sexual assaults

It happens to more people than you might think and impacts women inside and outside of the workplace

Homes in Hope sparkling for the holidays: Part 1

Hope photographer Ray Daws shares some festive sights

Court denies WestJet’s bid to toss out discrimination lawsuit of former worker

Mandalena Lewis is suing WestJet over allegations of gender-based discrimination

VIDEO: 3 months later, rescued sea lion released back into ocean

The young animal was found in Campbell River three months ago

Sagmoen neighbours recall alleged hammer attack

Woman was screaming outside Maple Ridge townhouse in 2013

UPDATED: Train collides with car in Maple Ridge

Mother and child both uninjured, track cleared at 11 a.m.

Accused B.C. drug smuggler to be extradited

Supreme Court of Canada upholds extradition order for accused Shuswap drug smuggler, Colin Martin

One convicted, two cleared in 2014 deaths of men in B.C.’s Cariboo

Andrew Jongbloets convicted of manslaughter in deaths of Matthew Hennigar, 23 and Kalvin Andy, 22

VIDEO: Pedestrian struck by vehicle caught on security camera

Incident points to danger on the roads not only in low light but also in bright sunshine

AHUS patient Shantee Anaquod is home for Christmas

Less than a month after receiving first dose of $750K drug, 23 year old healthy enough to go home

Most Read