Gas prices have exceeded the $1.60 mark and don't expect to come down any time soon. (Spencer Sterritt/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

pump pain

Nanaimo gas prices exceed record, expected to keep climbing

Jul 6, 2021 | 5:31 AM

NANAIMO — Big jumps at the gas pump are expected in Nanaimo.

The price of gas reached 165.9 cents as of Monday, July 5, the highest ever according to gasbuddy.com.

“Record prices right across the province,” Dan McTeague of gasbuddy.com said. “You’re going to be touching prices you’ve never seen before.”

Across B.C., the previous record high in the average of the last 10 years was roughly $1.44 in the summer of 2019. The average for the province currently sits at $1.49.

McTeague said a “perfect storm” of variables is sending prices skyrocketing, such as a refinery in Washington state running into problems and the recent heat wave interfering with the refinery process.

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“A lot of moving parts but none of them signal any form of relief for consumers soon. It’s really a bad situation with a perfect storm emerging for some time now with oil demand through the roof and just not enough supply to go around.”

McTeague said prices are likely to hover in the high $1.60 range throughout the summer.

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— with files from 97.3 The Eagle

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