By Dylana Milobar

Analysts predicting post-weekend drop in Kamloops gas prices

Feb 23, 2019 | 8:28 AM

KAMLOOPS — If you’re looking to fill up your gas tank in Kamloops, experts recommend waiting until at least Sunday in order to save a few bucks.

Gas Buddy Senior Analyst Dan McTeague says they’re estimating prices at the pumps to drop down likely by the end of the weekend.

“We’ve seen gas prices move up a little bit, by about 8 or 9 cents a litre,” He explains, “Gas stations were selling fuel for as little as what it costs them to buy. In other words, not covering the cost of what it takes to run a gas station or honour credit cards. So we saw an increase that reflected what’s called an operating margin for gas stations.”

That price is expected to go back down in the city, but McTeague says it might take a couple days.

“Wait until Sunday night, Monday, or Tuesday. It will likely be down to the low $1.20’s, maybe off by as much as 4 or 5 cents a litre, if you can wait.”

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Long term, McTeague says it looks like oil prices will likely raise heading into March, April and May.

“Only because oil is moving up, gasoline futures will also start to take off with U.S demand. We know there is another $.01.1, $.01.2 increase, compliments of the B.C Government increasing it’s carbon tax yet again.”

McTeague says all of those factors point to higher prices, which experts were predicting for 2019.

“In which gas prices are likely on a national average, to be higher than any point since 2014.”