Nova Scotia’s regulated gas prices may reach a record high this week.

News 95.7 is predicting the price will increase by at least two cents tonight, moving the price of regular self-serve close to – if not above – the post-regulation record high of $1.446.

The provincial opposition is calling on the Dexter Government to provide some relief at the pumps for Nova Scotians, and lower the tax on gasoline.

But Premier Darrell Dexter says that would only hurt the province.

“All of the programming in Nova Scotia is built on the revenue that we have,” Dexter says. “So, (to lower the tax) it would mean that (the opposition) would either have to cut more money out of the budgets of education and of health care. Either that, or (the opposition) would want to run up the deficit higher. I don’t think any of those things are acceptable.”

Liberal Leader Stephen McNeil calls that a false debate.

“He chose to give millions of dollars to the big oil in Dartmouth. He chose to buy millions of dollars worth of paving equipment unnecessarily,” McNeil says. “He’s chosen to purchase land in Nova Scotia for million of dollars. He’s making those choices instead of making the choice to give Nova Scotians a break at the pumps.”

Meanwhile, two local industry experts suggest the painfully high prices may be peaking for the year.

“Gasoline is starting to trade down. We’re starting to see a moderation in prices right now,” George Murphy of Consumers For Fair Gas Prices told the Rick Howe Show Wednesday.

The vice-president of Wilson’s Fuels agrees that gas pains could ease in the near future.

Dave Wilson tells Metro Halifax, prices at this time last year ended up well above the average price for the year – and he says that’s been the pattern for eight of the last 10 years.

New Brunswick’s gas prices went up 2.7 cents overnight to a new maximum of $1.422. Diesel prices fell 0.4 cents to $1.407.

In Montreal gasoline is currently selling at $1.479, and in Toronto, the average has hit $1.38.

Murphy said the high prices can be blamed on oil refineries shutting down in the United States.

“You’re going to end up with an artificial draw down in gasoline, in this particular case in the U.S. northeast, and hence you’re going to see product prices increase,” he said.

Consumers are responding to recent increases with an email campaign to boycott Petro Canada and Esso gas stations, starting May 1.

Murphy suggests the better way to effect gas prices is to buy less by conserving more fuel.

“If you want to get something done, on a collective basis, on May 1, what everyone should be doing is looking at their speedometer and keeping it a 55 and make it stick there,” said Murphy. “If you conserve, you will impact. We’ve done that before. We’ve managed to impact inventories and managed to keep prices down.”

Jason Parent, senior associate at the Kent Group, predicts gas prices will rise another eight cents above current pump prices over the coming months.

But Parent cautions anything can happen in the meantime that can drive prices up or down.