Wait what? Gas prices in Okanagan, Kamloops expected to drop this long weekend | iNFOnews | Thompson-Okanagan's News Source

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Wait what? Gas prices in Okanagan, Kamloops expected to drop this long weekend

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If you don’t like the price of gas today as we head into the Victoria Day long weekend, try waiting a day or two.

Dan McTeague with Canadians for Affordable Energy says prospects for weakening demand should see gas prices coming down in Kamloops and Okanagan by several cents over the weekend.

“It currently costs gas stations about $1.28 per litre for regular gas today but I don’t think it will hold, only because of some slight decreases in wholesale prices over jitters about inflation and interest rates. Those two things are causing markets to re-think global demand,” McTeague says.

“I think we’re going to see gas prices drop this weekend. Eyes usually roll at this point because everyone thinks the long weekend is the time for prices to rise but that’s more the stuff of myth and coincidence. U.S. markets have been trending down the last few sessions, and oil lost about $4 a barrel,” he says.

Oil futures are dropping about the equivalent of about 15 cents a gallon, which works out to about four cents per litre.

“That’s likely to be reflected in prices come the weekend, so if you don’t like 137.9 today you might want to wait until Saturday or Sunday. It might be back down to 135.9,” he says.

Kamloops residents are looking at prices ranging from 134.9 to 139.9 cents per litre for regular fuel today, May 21, according to GasBuddy.com.

Okanagan cities have similar prices:

  • Vernon 131.4 to 133.9 cents per litre
  • Kelowna 134.9 to 136.9 cents per litre
  • Penticton 137.9 cents per litre

The lowest gas price in B.C. is found at Shell station way up north in Fort St. John Shell where a litre of regular fuel is selling for 120.9 cents per litre.

Four gas stations in the North Okanagan and Shuswap are in the province’s top 10 list of lowest gas prices, according to Gasbuddy.com:

  • Super Save at 50 3 St. NW Salmon Arm - 131.9 cents per litre
  • Centex at 7702 Highway 97A in Mara - 131.9 cents per litre
  • Super Save at 3603 32 St. in Vernon - 131.9 cents per litre
  • Tempo at 895 Mabel Lake Rd. in Enderby - 131.9 cents per litre

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