Tuesday, March 30, 2021

Up, Up, Up go the Prince Rupert gas prices

A bit of some shock at the pump today for those filling up their vehicles at most of the city's gas stations, with the price at the pump now marked at 1.41.9 per litre at three of the four options for a fill up in the community.

When we last filled up the North Coast Review News Cruiser late last week, the price was a more familiar 1.27.9/L still high but not a 'What the heck kind' of high.

Today, those days seem like the bargain days, with the roll call of Prince Rupert gas bars at 1.41 as follows:

There is one bargain to be found as of this afternoon with the Petro Can location in the Industrial park listing a price at the pump of 1.29/L ... for now!

With the spike for most stations, Prince Rupert seemingly leads the Northwest at price at the pump.

A quick scan of the Gas Buddy Website shows the following: 

Burns Lake 1.31 per litre
Kitimat 1.32 to 1.35 per litre
Smithers 1.33 to 1.34 per litre
Terrace. 1.34 to 1.35 per litre

While a spike for Prince Rupert is eye-catching, compared to Haida Gwaii we're bargain basement pricing.

Masset has a price at the pump of 162.5 per litre 

There's no explanation to be found province wide as of yet to explain for the fluctuation in recent days, though the Gas Buddy researchers have been watching the oil markets and offer up this bit of North American research for us.

“After the feverish rise in gas prices to start the year, increases have largely tapered off and we’re now seeing decreasing prices in most areas of the country, thanks to oil prices that have moderated for the time being. As the Suez Canal has remained blocked for nearly a week, we could see some volatility in the price of oil this week as the market digests any updates as hundreds of ships remain in limbo. Back stateside, refiners have made the switch to summer gasoline and price impacts have been limited thus far, but demand for gasoline remains strong. Last week saw total gasoline demand at yet another pandemic high according to GasBuddy data. As we approach warmer weather and motorists are increasingly getting outside, it could drive prices higher, so long as COVID-19 cases don’t jump along with it and lead to new travel restrictions.” -- Patrick De Haan, head of petroleum analysis for GasBuddy

More notes on commercial themes can be explored here.

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