N.S. gas prices unchanged
Posted Dec 16, 2011 05:04:51 AM.
This article is more than 5 years old.
Nova Scotia’s regulated gas prices have not changed this week.
Despite significant declines in oil and wholesale gas prices and a falling loonie, the UARB has elected to keep gas prices the same for another week.
Regular self-serve will stay at $1.229 in metro.
Diesel prices have fallen from $1.288 to $1.275 in metro, a drop of 1.3 cents a litre.
In Toronto, unregulated prices fell significantly overnight to the lowest average price in the last three months.
News 95.7’s business editor Richard Southern explains prices are responding to international pressures on gas prices.
“The price of oil is down more than six days in the past two days alone, and US wholesale gas prices have also moved sharply lower,” he said. “The reason for that is what’s going on in Europe. The worsening debt crisis has investors looking to avoid anything that’s risky, and that certainly includes commodities like oil.”
Oil closed at $93.87 U.S. a barrel on Thursday, about six bucks higher than at this time last year. In mid-December last year, drivers in metro were paying $1.13 for gas and $1.14 for diesel.
