NS gas prices edging up a penny
Posted Aug 23, 2012 04:53:29 AM.
This article is more than 5 years old.
Not much change at the gas pump but consumers may wan’t to think about filling up their heating oil tanks.
News 95.7 is predicting the price of gasoline will increase by no more than a penny when the Utility and Review Board resets the price at midnight Friday.
“It’s creeping upwards in the wrong direction,” George Murphy, with Consumers for Fair Gas Prices told the Rick Howe Show Wednesday afternoon.
The price of gasoline is currently selling for $1.341 in metro and could be selling for as much as $1.35 by Friday morning. The price edged up in neighbouring provinces by eight-tenths of a sent over the last week. In New Brunswick the price of gasoline went up 0.6 cents a litre and is now selling for a news maximum of $1.29. Diesel also rose by about two cents a litre.
The price of gasoline is leveling off as investors begin pouring money into distillate fuels as the summer driving season comes to a close and the fall and winter heating seasons approach.
Murphy has been tracking heating and stove oil numbers as they increase by 1.66 cents a litre, this week, bringing both prices over the $1 a litre well ahead of the winter heating season.
“We’re probably about 15 cents a litre ahead of where we were last year,” he said. “That’s a big concern for consumers because, of course, I think last year we saw a maximum of $1.05 during the winter heating months.”
On his blog, Murphy said diesel fuel prices are expected to increase another two cents a litre bringing diesel prices to $1.35.5 a litre on the Avalon and $1.70 to coastal Labrador.
“The recommendation here would probably be to fill up because there nothing in the works that show that oil prices are going to drop any time soon,” said Murphy.
