(Black press file photo)

Behind the pump: Multiple factors causing high gas prices in B.C.

This summer is shaping up to be a long and painful one at the gas pumps

This summer is shaping up to be a long and painful one at the gas pumps.

B.C. currently has the highest gas prices in North America. A recent poll by the Angus Reid Institute showed nine-in-ten drivers in B.C. have noticed a major increase in gas prices, and 59 per cent of residents feel the provincial government isn’t doing enough to address the issue.

Most importantly, 50 per cent of B.C. residents say rising gas prices are making it harder to afford basic necessities. One-in-three of those who have been affected by the rising prices say they have been driving less, and another quarter say they have been filling up less.

RELATED: Horgan heckled as gas prices sit at record high, could go up more

People are quick to point fingers in any direction to get to the heart of the issue. Some blame the carbon tax, while others blame oil companies for allegedly price gouging consumers for pure profit. The truth, according to a market snapshot released by the National Energy Board, is that there are multiple factors for B.C.’s high gas prices.

As per April 2019 statistics: in Vancouver, the price of crude oil is 51 cents per litre, 10 per cent below the national average. However, the cost of refining the crude oil in to gasoline is 52.1 cents per litre, roughly double the Canadian average refining margin.

The marketing margin for gasoline, the costs associated with selling it to consumers at the pump, is 10.5 cents per litre, approximately 69 percent higher than the Canadian average. Finally, taxes on gas were 53.9 cents per litre, approximately 21 percent higher than the Canadian average.

Another element of the issue is the Trans Mountain pipeline expansion. The pipeline currently provides B.C. with 28 thousand barrels a day of refined petroleum products. It also supplies the Parkland Refinery in Burnaby with around 50 thousand barrels a day of crude oil.

On average, B.C. consumed 96 thousand barrels a day of gasoline in 2018. To feed the demand for refined petroleum products, B.C. has to get it not only from local refineries and Alberta, but also by barge from the United States, which inflates the price at the pump.

RELATED: Gas prices 101: Where B.C. drivers’ pretty pennies are going at the pump

Vancouver Island is not facing as steep of prices as Metro Vancouver, but the prices are having an impact.

Prices in Victoria vary between 157.9 at Costco and 161.9 downtown. In Duncan, gas is at 156.9, In Ladysmith, Nanaimo, and Parksville, the average cost of gas is currently sitting at 153.9. Port Alberni is 156.9, Comox is 155.9, Campbell River is 152.9, and Tofino is varied between 153.9 and 157.9.

Prices are expected to continue rising throughout the summer.

Just Posted

Island farm stands opening for business with COVID-19 restrictions

Growers hopeful shoppers will support local farms

French fries to juicy tomatoes, rock art brings joy to walkers in Victoria

James Bay yard filled with painted rocks delights all ages

Duncan veteran recalls war’s end

War changed Jack Bridges’ life forever

Vancouver Island’s long road to recovery will have a few bumps

Some things will never be the same after the COVID-19 pandemic, local experts say

West Coast resorts cautiously prepare to welcome tourists again

“We need to get the tourist economy in our communities back up and running.”

11 new COVID-19 cases in B.C. as top doc urges caution amid ‘encouraging’ low rates

Dr. Bonnie Henry also announced that two care home outbreaks would be declared over

Incoming: Income tax deadlines arrive

2019 individual tax returns are due June 1, June 15 for self-employed individuals

Greater Victoria guide dog walk turns to virtual physical challenge

Pet Valu Walk for Dog Guides is May 31 with an online twist

Tour de Victoria postpones 10th annual ride to 2021

Ride that draws more than 3,000 cyclists to Greater Victoria had been set for August

Parksville’s McMillan Arts Centre set to reopen on June 18

Local artists will have work on display; COVID-19 protocols observed

Father’s Day Walk Run for prostate cancer will be virtual event this year throughout B.C.

The annual fundraiser for Prostate Cancer Foundation BC has brought in $2.5 million since 1999

Dr. Bonnie Henry announces official ban on overnight kids’ camps this summer

New ban comes after talking with other provincial health officials across the country, Henry says

Senior man in hospital after unprovoked wolf attack near Prince Rupert

Conservation officers are on site looking for the wolf

VIDEO: NASA astronauts blast off into space on SpaceX rocket

Marks NASA’s first human spaceflight launched from U.S. soil in nearly a decade

Most Read