Gasoline prices are at near record levels in Kelowna and petroleum experts say the worse may be yet to come.
According to GasBuddy.com, a number of factors are contributing to the high prices including the start of the summer driving season (typically recognized as the Victoria Day long weekend) and recent problems with production at a Suncor refinery in Edmonton.
“We’re going to see gas prices going slightly higher yet – it's going to get worse before it gets better,” says Jason Toews, Co-Founder of GasBuddy.com.
“But I do think we’re going to see gas prices come down a bit. (They) really are too high right now, we’re basically near record level prices in Kelowna.”
The record high for gasoline prices in Kelowna was set in 2008 at just under $1.50/litre. Toews says we will come close to that mark again, but is unsure whether we’ll break through.
“I think what’s going to happen in June is we’ll see gas prices come down a little bit,” says Toews.
“It’s very close to peaking. It could go up another couple of cents per litre but I don’t think it’s going to break $1.50 but I do think prices will come down in June and we’ll see something in the $1.30-1.40 range.”
However he does believe gas prices will spike once again in July or August.
As of writing, the gas prices in Kelowna are $1.479/litre - among the highest prices anywhere in the country.
The average price for a litre of regular gasoline in BC is $1.423, the highest of any province or territory in the country.
A half dozen or so stations in northern BC have prices above the $1.50 per litre threshold.
The highest priced gas in Canada can be found at a station in Saint Philippe, QC at $1.70 per litre.
New Brunswick has the lowest average price at $1.262 a litre while the lowest gas price in the country is $1.10 per litre in Muncey, ON.