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Monday, October 21, 2019
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Home News Fort St. John could see gas price spike, with rebound shortly thereafter

Fort St. John could see gas price spike, with rebound shortly thereafter

FORT ST. JOHN, B.C. – Though gas prices in Fort St. John have stayed at a steady 112.9 cents per litre for the past two months, gas prices elsewhere in the Peace have jumped up in recent weeks.

GasBuddy Senior Analyst Dan McTeague says that the spike in the price of gas at pumps in Dawson Creek and Grande Prairie stem from a supply issue in the latter half of December that cuased prices to spike by close to ten cents in areas like Metro Vancouver over the New Year’s long weekend.

McTeague explained that the spike began when two refineries in the American Midwest saw a drop in production, which caused wholesale prices to jump across North America. While the two refineries have returned to normal production, the chain reaction of those higher wholesale prices mean that the price at the pump could jump in Fort St. John, as it has in Dawson Creek.

Prices at roughly half of that city’s filling stations are still sitting at pre-New Year’s levels of around 109.9 c/L, while others are now selling regular unleaded for 116.9 c/L. McTeague said that since prices have rebounded back down on the wholesale market, retailers should be following suit once their supply purchased at higher prices is consumed. He added that Fort St. John could even miss the spike completely, but that even if prices do go up, they would return to normal levels after only a couple of weeks.

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