Okanagan motorists are paying more at the pump and relief may not be coming soon.
Prices have jumped to nearly $1.40 per litre of regular grade at most stations in the valley.
That’s an increase of about 20 cents a litre in the past week.
It has been a few years since gasoline prices were this high.
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Some analysts say the spike may be the result of a low Canadian dollar and a bustling U-S economy which is increasing demand stateside.
They also say the jump could be attributed to a pipeline rupture in the upper U-S midwest and two American refineries that were shut down for maintenance.
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“All of western Canada is affected by these price increases,” says GasBuddy senior petroleum analyst Dan McTeague. “Wholesale prices for gas have gone up up 14 cents a litre whether you’re in Thunder Bay or on the Pacific coast. This is really a reflection of the demand spike we’re seeing for gasoline.”
McTeague says the earliest price relief at the pumps could come is late next week.
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