Relief could be coming to Kamloops gas prices

By Vanessa Ybarra
November 12, 2017 - 11:25am

KAMLOOPS — Kamloops hefty gas prices could see a drop later this week.

Prices are as high as $1.35 at some stations around the city.

Gas Buddy Senior Petroleum Analyst Dan McTeague says the sky-high prices are a case of supply and demand. 

"Three large refineries in the US Midwest had to delay their fall maintenance by about a month and a half because they were trying to produce enough gasoline to meet the shortfall in September when Hurricane Harvey and Irma  began to really grind through excess gasoline inventories. Now they're playing catch up which is whats led to the decrease in supply."

McTeague says gas prices are on average .20 cents higher per litre across the country than this time last year.

He says the gas gods could turn things around mid week.

"On Wednesday or Thursday the weekly inventory report in the US should show a bit of a turnaround in gas supply south of the border and that could drop prices."

Kamloops property tax rate 'doing well' compared to other cities