Pandemic playing role in stable gas prices in Okanagan, Kamloops | iNFOnews | Thompson-Okanagan's News Source

Current Conditions

-0.2°C

Penticton News

Pandemic playing role in stable gas prices in Okanagan, Kamloops

FILE PHOTO
Image Credit: THE CANADIAN PRESS/Graham Hughes
October 02, 2020 - 3:40 PM

When was the last time you saw gas prices this stable in Kamloops and the Okanagan?

A look at prices in Kamloops, Vernon, Kelowna and Penticton on GasBuddy.com shows the price for a litre of regular gasoline within a penny of each other today, Oct. 2.

Here’s what GasBuddy.com says a litre of fuel is worth today:

  • Kamloops 109.9 to 113.9
  • Vernon 113.9
  • Kelowna 112.9
  • Penticton 111.9 to 112.9

Prices have been hovering in that range for weeks now, with little or no swings to reflect upcoming long weekends, supply problems or other issues that would likely have caused price changes in the past.

The managing director of the petroleum marketing and price analyst company Kent Group Jason Parent said today’s pricing might be unusual for the region given the activity the last couple of years, but across the country prices have hit a period of relative stability ever since they dropped at the beginning of COVID-19 pandemic.

“It’s attributable to stability in crude oil prices, which have remained flat for an extended period of time. Prior to COVID-19, and particularly out West, prices were volatile, especially wholesale product prices,” he said.

Parent said the overall market has reached a period of stability as demand has flagged a bit.

“Many people are watching the market to see what’s going to happen with demand,” he said.


To contact a reporter for this story, email Steve Arstad or call 250-488-3065 or email the editor. You can also submit photos, videos or news tips to tips@infonews.ca and be entered to win a monthly prize draw.

We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above.

News from © iNFOnews, 2020
iNFOnews

  • Popular vernon News
View Site in: Desktop | Mobile