N.S. gas prices expected to hold steady
Posted May 3, 2012 05:39:42 AM.
This article is more than 5 years old.
We aren’t expecting much change when the UARB resets gas prices tonight.
News 95.7 is predicting prices should stay around the current price of $1.342 in Metro, though there’s room for a small drop.
George Murphy of Consumers for Fair Gas Prices tells News 95.7 there were no big surprises in this week’s inventory reports, and the markets are holding pretty steady.
“The overall numbers I’m looking at with product consumed are pretty much telling me that product supplied and product consumed by the consumer are pretty much in match,” he said. “So the numbers being equal, there’s not much movement of course in the inventory overall.”
Gas prices rose sharply through March and April, reaching a new record in metro of $1.45 for regular self-serve. Murphy says it appears drivers are responding by stretching every litre of gas as far as possible and the focus on conservation has helped lower demand.
He says that could help delay the price increases ahead of the Victoria Day weekend that typically mark the start of the summer driving season.
“We’re not seeing consumers pick up on the amount of gasoline they’re consuming,” he said. “There’s going to be probably these one or two cent drops and possible increases, but I don’t see prices for the Victoria Day weekend to be moving upwards past where they are right now.”
In New Brunswick, regulated prices dipped less than a cent overnight to a new maximum of $1.337. Diesel prices moved in the opposite direction, climbing 1.1 cents to $1.38.
In Toronto, unregulated prices were expected to drop 1.4 cents a litre, moving the average price in the GTA to $1.305.
