If your gas tank is empty, better fill up now before prices shoot up another four cents on Friday.
U.S. refiners, which sell the Lower Mainland most of its gas, oversold their supply of summer gasoline, according to GasBuddy.com senior analyst Dan McTeague.
“That’s what’s caused the prices to spike over the past week,” McTeague told Black Press Media by phone.
Metro Vancouver gas prices rose by three cents to 153.9 cents per litre as of Thursday morning and are forecast to shoot up to 157.9 cents by Friday.
Thankfully, McTeague doesn’t see this price spike lasting long.
“It will probably settle itself in the next week or so, given that we’ll change over to the winter blend [of gasoline],” he said.
“But demand has been very strong and supply has not been as adequate as one would expect.”