Pain at the pump: Gas prices shoot up seven cents a litre

The Miracle - - National & Int -

A hike in whole­sale gas prices caused by a sup­ply squeeze shot pump prices up at least seven cents overnight and an an­a­lyst is ex­pect­ing gas to go up an­other one penny a litre on Wed­nes­day. The hikes in what is al­ready the most ex­pen­sive gas mar­ket in North Amer­ica hurts Randip Singh right in the wal­let. The Van­cou­ver cab­bie was fill­ing up at a Van­cou­ver gas sta­tion on Mon­day and he was skep­ti­cal about a short­age caus­ing the in­crease that’s go­ing to add at least $5 to his fill. “Be­fore they used to say it was the crude oil prices go­ing up and that’s not the case any­more,” he said. “I think they’re sell­ing less gas be­cause of the elec­tric ve­hi­cles and they’re not mak­ing as much profit so they have to raise the price.” For those who wel­comed a price dip to $1.369 a litre re­cently at some sta­tions (a dis­count that an­a­lysts said was caused by re­tail­ers com­pet­ing with one an­other), the hike seemed es­pe­cially steep. B.C. gas re­tail­ers have to pay a pre­mium to im­port gas and that amounts to an ex­tra 19 cents a litre from the Wash­ing­ton re­finer­ies, said McTeague.

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