Metro Vancouver motorists can blame a pipeline in Washington state for a 16-cent spike in gas prices recently.
Dan McTeague, senior analyst at gasbuddy.com, said the increase to $1.309 per litre has been caused by the impending closure of British Petroleum’s Olympia pipeline next week.
He said traders are buying up supplies in anticipation of “potential shortages” until regular pipeline maintenance is completed around the middle of the month.
“What happens in the U.S. affects Canada. We have to ask the Americans for extra supply,” he said. “Chevron’s facility in Burnaby is not enough to meet the needs of Vancouver and Vancouver Island.
“The fact is supply is tight right now across the U.S., where demand for gas has risen to levels not seen before,” he said.
He said prices have “shot through the roof” from Kitimat to Thunder Bay as well.
A contributing factor has been the diminished purchasing power of the Canadian dollar over the past year, he said.
“That accounts for about nine cents a litre,” he said.
McTeague said motorists can save a few cents a litre by waiting until the weekend to fuel up.
BP’s pipeline should be running again by Nov. 15, boosting supplies again to normal levels.
