Gas prices expected to dip overnight
Posted Oct 11, 2012 06:00:09 AM.
This article is more than 5 years old.
Nova Scotia motorists should get some relief at the pumps if they wait until tomorrow to fill up their tanks. News 95.7 is predicting the price of gas will drop by about 4.5 cents a litre.
The pump price was hiked 3.8 cents a litre just before the Thanksgiving long weekend. Consumers for Fair Gas Prices says there has been a lot of volatility in the marketplace.
“This is the downside now of what we saw last week, when we saw the increases and the mass number of people coming into the market to invest,” George Murphy told the Rick Howe Show Wednesday. “This is a redress, a balancing of it.”
In September, pump prices were around $1.20 a litre. Over Thanksgiving, prices in Metro Halifax have been $1.411.
Murphy told the talk show consumers were gouged by those holiday prices, but there is some indication the market may stabilize.
“The word out on the street is there’s the possibility of an inventory build here. So, we’re starting to see a lowering of some of the numbers and in some cases, steady back to where they were back at the beginning of September,” he said.
The price of gasoline in New Brunswick went down 5.5 a litre overnight to a new maximum of $1.351. Most stations are selling in the $1.31 to $1.32 range.
