Gas prices to jump in Nanaimo area following pipeline explosion

He told Daily Hive the incident affects all Pacific Northwest (PNW) refineries, as the pipeline is the feedstock the refineries use to operate their plants.

“Without it, their output is curtailed,” he added. “That has caused a 30-cent-a-gallon increase in PNW market gas prices, which in turn is leading to a 4 cent/litre hike at the pumps for Vancouver drivers tomorrow.”

Dan McTeague, a Senior Petroleum Analyst with GasBuddy.com, tweeted about the rising prices, noting that rather than a three centre per litre increase, the Lower Mainland would see a four cent per litre increase. As such, this would result in a 1.619 cent per litre price in the region.

Metro Vancouver gas prices predicted to reach $1.659 cents per litre

McTeague said Friday’s price hike will be followed by another two to three cent hike for Saturday.

“That could put us on course to gas prices going to 161.9 cents/litre tomorrow and then up another two cents to 163.9,” he noted.”That would be a record price. ”

NANAIMO — An industry insider is warning Vancouver Island motorists to expect an increase in gasoline prices of at least eight-cents a litre by Saturday.

What’s more, he added that Saturday is likely to see another three to four cent increase. This would mean a staggering $1.659 cent per litre price.

Gasbuddy.com senior petroleum analyst Dan McTeague said the pending increase is linked to the natural gas pipeline explosion near Prince George.

On Tuesday, October 10th, over 100 members of a First Nation community near Prince George were evacuated when a gas pipeline ruptured.

Its likely youre going to see prices break into record territories and much of it to do with the fact that refineries (in Washington State) cannot operate efficiently or effectively without their primary source of heat, which is natural gas.

McTeague said gas prices on Vancouver Island will likely remain inflated for a week or two until the damaged pipeline is repaired.

Most gas prices at stations in the Nanaimo area were $1.45 a litre as of early Thursday afternoon, according to GasBuddy.com.

The ruptured pipeline started a massive fire, and may affect up to 700,000 FortisBC in the province.