Straight Talk

Regular gasoline tops $1.50 per litre in Vancouver

by Charlie Smith on March 7th, 2018 at 9:01 AM
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      This morning as I was cycling past an Esso station near the Georgia Straight building, I stopped by the pumps to check on the price of gasoline.

      Much to the dismay of motorists, it topped $1.50 per litre of regular petrol.

      Esso Extra was selling for $1.63.9 per litre, and Esso Supreme clocked in at a whopping $1.69.9 per litre.

      Crude oil prices have been steadily rising over the last couple of years, though they fell back somewhat this morning.

      As of this writing, West Texas Intermediate is selling at US$62.09 per barrel, whereas Brent Crude is at US$65.27 per barrel.

      At $1.50.9 per litre, regular gasoline is a bargain compared to the $1.69.9 per litre that motorists are paying for Esso Supreme.

      Meanwhile, the only oil refinery in the Lower Mainland has been closed due to routine maintenance.

      Parkland Fuel Corp. bought the Burnaby facility last year from Chevron.

      It supplies nearly 25 percent of all retail gasoline sold in B.C.

      Coincidentally (or not), Parkland recently reported record profits in 2017 and in the fourth quarter of last year, with CEO Bob Espey calling it a "truly remarkable year".

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