Gas prices soar in Kamloops

By James Peters
February 16, 2016 - 11:41am Updated: February 16, 2016 - 12:18pm

KAMLOOPS — Gasoline prices in Kamloops and across the province are taking a big jump today.

Many stations in the city had gas set at about 78.9 through the weekend, but stations are bumping prices up into the mid-90s today.

Senior Petroleum Analyst Dan McTeague of GasBuddy-dot-com says the 17-cent bump stems from a boost to wholesale prices.

"Wholesale price has jumped to 47.9; they were down in the 30s. When you add the tax, the 12 cent retail margin and that gives you a subtotal of 91.07, times the GST: 95.6," McTeague told CFJC Today.

McTeague adds when Kamloops stations had the price set at 78.9, they were selling it up to five cents below cost.

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