Gas prices predicted to drop slightly at midnight
Posted Aug 8, 2013 12:53:09 PM.
This article is more than 5 years old.
Not much by the way of change coming at the gas pumps this week.
Our newsroom is predicting that when the UARB adjusts prices at midnight tonight the price will fall by about a penny a litre.
Dan McTeague from Tomorrow’s Gas Prices Today told News 95.7 fears of a slowing recovery south of the border continues to keep oil prices high.
“There’s concern about the United States tapering it’s assets bonds purchases which means there won’t be the amount of stimulus available which means people won’t be getting jobs, which would have meant people buying new cars down the road – a lot more than they are today,” he said.
He said there are going to be bigger changes in prices across the country heading into the weekend, but because our prices are regulated and set for a week, we won’t see the benefit.
“The full opportunity for prices to move down, the brakes have literally been put on it in the Maritime provinces and the benefit that will flow elsewhere will not be flowing in your direction at least for the foreseeable seven days,” he said.
But he said things are looking better for a drop in prices as we head deeper into August.
“Over the course of the next week to two weeks you will see decreases in the order of one, two and three cents a litre as the rest of the world really adjusts to where we ought to be in terms of prices we should have seen in June, not the hyper-inflated prices we’ve seen since July,” explained McTeague.
Across the border in New Brunswick prices are up by 2-tenths of a cent to a new maximum price of 134.1.
