The price of gas in British Columbia will continue pushing to record highs as a new carbon tax and a seasonal change exacerbate a 鈥渃hronic shortage,鈥� according to a leading expert.
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analyst Dan McTeague is calling for gas prices in Metro Vancouver to top the current $1.57 per litre record, reaching $1.61 per litre near the end of next week.
Starting Sunday, the first of four annual increases to the province鈥檚 carbon tax will add 1.22 cents to the cost of a litre of gas. B.C. Premier John Horgan said he doesn鈥檛 believe drivers will 鈥渂egrudge that penny,鈥� knowing it鈥檚 been earmarked to fund green initiatives.
McTeague said that hike alone will push prices to as much as $1.56 per litre.
鈥淭he pain isn鈥檛 over yet,鈥� he told CTV Vancouver on Friday. 鈥淚n about seven to eight days, we transition from winter to summer gasoline. That will add four cents a litre.鈥�
According to McTeague, gasoline supply in the region continues to be choked by a lack of pipeline capacity and a refinery that is shut down for maintenance.
鈥淭hat is creating a chronic shortage,鈥� he said. 鈥淭he only solution left really for Vancouver (is) it has to wake up. It has to recognize the only way to get more gasoline down there is the Trans Mountain pipeline expansion.鈥�
Ottawa approved Kinder Morgan鈥檚 $7.4-billion pipeline expansion in 2016, but the project faces significant opposition in B.C. The provincial government has raised concerns about environmental safety and economic impact.
鈥淭hose who don鈥檛 like high prices shouldn鈥檛 be opposing Kinder Morgan,鈥� McTeague said. 鈥淭hat鈥檚 really the only solution at hand for Vancouver.鈥�
Thousands of anti-pipeline demonstrators have rallied near Kinder Morgan鈥檚 Trans Mountain work site in Burnaby in recent months.
Meanwhile, tempers are flaring over Horgan鈥檚 apparent lack of empathy for those forced to pay more to fill up.
鈥淕as prices are some of the most expensive in the world, much less anywhere else in the country,鈥� said one driver. 鈥淭hat's completely ridiculous.鈥�
With a report from CTV Vancouver鈥檚 Ben Miljure
