If you are looking to fill up in Penticton today, you might be in for some sticker shock.
Gas prices shot up 10 cents overnight, with most gas stations across the South Okanagan sitting at $145.9 per litre. These are some of the highest prices Penticton has ever seen.
On Wednesday, gas prices were hovering around $1.35 per litre across South Okanagan.
There were still several gas stations at $1.35 Thursday morning at the time of publishing if you want to fill up.
According to Gasbuddy.com, which finds real time gas prices all around North America, gas prices in Canada are so high because we are coming out of the pandemic with more demand on supply and our high carbon taxes.
“Oil prices have reached their highest since 2018 on strong demand as the global economy recovers. Also a factor that oil companies trimmed production last year as demand had fallen,” said Patrick De Haan, head of petroleum analysis for Gasbuddy.com. “Now there’s a mismatch in supply and demand pushing prices up. Plus continued increases in Canada’s carbon taxes as well over the last couple of years.”
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