Pumpjacks pump crude oil near Halkirk, Alta., June 20, 2007. Prospects are looking brighter in the Canadian oilpatch as commodity price increases drive higher profits and afford companies room to offer dividend hikes and share buybacks, but slumping stock prices show that the oil and gas sector remains in the penalty box with investors.THE CANADIAN PRESS/Larry MacDougal

B.C. gas prices see long-weekend jump, just as inquiry report to be released

Vancouver will see prices as high as 155 cents per litre

Just as B.C.’s utilities commission is expected to release findings from a probe into high gas prices in the province, many Lower Mainland drivers awoke to a three-cent jump at the pumps.

Prices are expected to increase another two cents per litre on Saturday, to as high as 155 cents a litre through the weekend, petroleum analyst Dan McTeague said on Twitter. The jump is likely due to seasonal maintenance at a Washington State refinery.

Outside of the Greater Vancouver area, per-litre gas prices were roughly 141 cents in Victoria on Friday morning, according to GasBuddy.com. Meanwhile prices were seen hovering around 125 cents in Kamloops and roughly 132 cents in Williams Lake.

GAS PRICES 101: Where B.C. drivers’ pretty pennies are going at the pump

The cheapest gas was spotted in Prince George, prices at 110 cents per litre.

Premier John Horgan called for an investigation into soaring costs at the pump in May, after the price of a litre of regular gasoline climbed above $1.70.

The B.C. Utilities Commission report, set to be made public late Friday morning, is likely to focus on oil companies’ refining margins to explain fluctuations in gas prices.

The commission was tasked with investigating possible price fixing and gouging, as well as details in retail and wholesale prices between Vancouver and other North American cities. The report includes findings from a four-day public hearing where a number of major oil companies testified.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

‘Best of Cloverdale’ contest returns

Voters can cast ballots once a day until Sept. 5; enter to win $250 gift card for Save-On-Foods

Surrey Fire Fighters Charitable Society doing ‘better than we were expecting’ amid COVID-19

At one point, the board thought it might have a donation shortfall of $250,000

Man arrested in ‘after-hours club crackdown’ in Whalley, Surrey RCMP say

Police say they received information about clubs, parties ‘springing up’ at commercial properties

53 new COVID-19 cases, no new deaths cap off week of high infection rates in B.C.

Roughly 1,500 people are self-isolating because they either have COVID-19 or have been exposed to it

3 Vancouver police officers test positive for COVID after responding to large party

Union president says other officers are self-isolating due to possible exposure

New mothers with COVID-19 should still breastfeed: Canada’s top doctor

Dr. Theresa Tam made the recommendation during World Breastfeeding Awareness Week

Collapse of Nunavut ice shelf ‘like losing a good friend:’ glaciologist

The ice shelf on the northwestern edge of Ellesmere Island has shrunk 43 per cent

PHOTOS: Moving day for 110-year-old Fraser Valley heritage house

Chilliwack heritage house makes 1.7-kilometre journey to new location

Plainclothes Abbotsford police officer deletes cellphone video after drawing gun on innocent man

‘They never asked me what I was doing there, strictly came out with guns, threatening to shoot me’

CRIME STOPPERS: ‘Most wanted’ for Aug. 7

Crime Stoppers’ weekly list based on information provided by police investigators

Construction underway on Langley’s new hospice residence

The new 15-bed facility is slated for completion in summer 2021

50-year-old time capsule unsealed at Abbotsford International Airport

Capsule sealed by former PM Pierre E. Trudeau in 1970, when event became ‘Canada’s National Airshow’

Most Read