Gas prices in Victoria were as high as 164.9 cents a litre on Thursday, breaking an all-time record.

Victoria sees highest gas prices on record

Prices as high as 164.9 cents a litre break 2018 record

Gas prices in Victoria have surpassed an all-time record high.

A number of gas stations were recorded pricing fuel at over 164 cents a litre on Thursday. Before then, the highest recorded average was just last year, when prices were listed as high as 155.7 cents a litre.

GasBuddy.com analyst Dan McTeague said the price jump is likely the result of disturbances south of the border.

He says two Washington refineries are running at reduced rates and a number of California refineries have gone offline, reducing production by as much as two million barrels.

That means foreign oil has to be brought in – driving prices up all along the West Coast – and Victoria is one of the hardest hit.

“It’s having an impact on everyone along the coast,” McTeague said. “It means you have to bring prices higher to attract others to the market.”

READ ALSO: John Horgan says spike in gasoline prices is profit-taking, not taxes

According to GasBuddy, the Shell station on Yates Street and the Shell on Nanaimo Road are sitting at 162.9 cents a litre, while the lowest prices can still be found at the downtown Essos and Petro Canada, both currently charging 153.9 cents a litre.

Todays average of 159.8 is 14.3 cents above last year’s average and 5.3 cents above last week’s.

McTeague says prices may dip slightly in the next 24-48 hours, but he can’t say how long the price jump will last until there are further market indicators.

“After Easter we should start to see prices go back to normal,” he said.

READ ALSO: Lower gas prices help Canada inflation rate slow to 1.4% in January

Like us on Facebook and follow us on Twitter

Just Posted

Autism support dog helps Langford boy hold his head high

Family shares story for Autism Awareness Month

Plans to clear-cut old-growth near Port Renfrew causes an environmental outcry

Groups call logging a provincial government ‘blind spot’

BC Ferries to pilot selling beer and wine on select routes

Drinks from select B.C. breweries and VQA wineries to be sold on Swartz Bay to Tsawwassen route

Limits on chinook sport fishing could cause devastating economic ripples

Vancouver Island fishing guides concerned over salmon sport catch reductions to save declining stock

New B.C. residents not exempt from speculation and vacancy tax

Darcy Garneau has lived and worked in B.C. for over a year but could still owe money to the province

It was no Kentucky Derby: B.C. girls host foot-long snail race

Two Grade 3 students in White Rock put four snails to the test in a hotly-contested street race

Sentencing delayed for man who attacked Vancouver Island police dog

Uno later recovered from his injury and returned to work in Victoria

Police probe eight fires set at B.C. elementary school

Nanaimo RCMP say fires appear to have been set intentionally

Inquest into Port Hardy police shooting moved to Campbell River

Family disappointed James Hayward coroner’s inquest rescheduled hours away

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

B.C. RCMP arrest foreign national in connection to airport thefts

A woman, 60, is being held in police custody as Richmond RCMP investigate

Police pursue pesky porker on Vancouver Island

‘This was allegedly not the pig’s first escape’

Most Read