On Thursday, Merritt was the centre of a full fledge gas war. By the end of the day on Thursday gas was selling for 96.9.
While the war has ended, stations across the City are still selling the liquid gold below cost.
Thanks to a 2.5 cent decrease in the wholesale cost of petrol on Friday, the current breakeven price for stations is 116.9, yet stations in Merritt are continuing to sell at 113.9.
GasBuddy Senior Petroleum Analyst Dan McTeague believes the price will soon return to a normal level, on par with the rest of the Okanagan.
“So, 116.9 is your breakeven, and they usually want eight to 10 cents a litre above that, call it 1.27 to 1.30 would be the price that I wouldn’t be surprised to see most stations in the Okanagan sell at,” said McTeague.
Stations across the region are selling gasoline at the following costs (as of Monday morning)
- Penticton 137.9
- Logan Lake 136.9
- Ashcroft 136.9
- Kelowna 134.9
- Lytton 133.9
- Kamloops 128.9
- Abbotsford 118.9
The only question that remains is when will the prices in Merritt move inline with the rest of the region.
On Twitter: @Q101Merritt