Why sky-high gas prices in N.S., N.B. could be here to stay
Global News
As gas prices spike in Nova Scotia and New Brunswick ahead of the long weekend, an industry expert says people should start getting used to paying more at the pumps.
As gas prices spike in Nova Scotia and New Brunswick ahead of the long weekend, an industry expert says people should start getting used to paying more at the pumps.
On Friday, the minimum price for regular self-serve gas in the Halifax area jumped by 4.8 cents, to 141.6 cents per litre. The price of diesel has also leapt by seven cents, up to a minimum price of 139.
In New Brunswick, the maximum price of regular self-serve gas went up by 4.2 cents to 145, and the price of diesel rose by 6.5 cents to a maximum price of 152.1.
“Those are prices we haven’t seen in a very, very long time,” said Dan McTeague, the president of Canadians for Affordable Energy.
Just one year ago, people in both provinces were paying less than $1 per litre at the pumps.
These price increases — which are being seen across the country — can be attributed to the rising price of crude oil, which rose from around $72 to around $79 per barrel earlier this week.
“That’s one of the major reasons why we’re seeing these prices respond,” said McTeague.
“Even though it’s a weekly thing, under the regulated system, it just means the Atlantic provinces are simply playing catch-up with the price increases we’ve seen across the country.”
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