Gas price hike predicted - NEWS 95.7
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Gas price hike predicted

The price of gasoline in Nova Scotia is expected to spike by about a nickel a litre overnight.

Motorists in Halifax are currently paying $1.29 a litre for regular self-serve, but when the Utility and Review Board adjusts the price at midnight Friday, it’s expected to go up to as much as $1.34.

“It seems like at least for this week, the honeymoon may be over,” George Murphy with Consumers for Fair Gas Prices told the Rick Howe Show Wednesday.

The province has been seeing a trend of small increases and decreases over the last few months.

Last week, the price went up about four cents a litre making tomorrow’s additional five cent a litre increase all the more significant on drivers’ wallets.

“I think this is artificial right now,” said Murphy. “I think we are going to see some sort of a retreat in the next week or so.”

Murphy points to the buying habits in the United States as a reason why the upward trend may be artificial.

“On a month by month basis, [the U.S. government] is taking $85 billion of the taxpayers money and buying everthing from treasury bonds to stocks from companies, just to hopefully get the economy going,” he said.

In New Brusnwick, the price of regular self-serve went up 4.4 cents a litre overnight and is now selling for a new maximum of $126.3.

Diesel went up 2.1 cents a litre, while the price of heating and stove oil rose 1.9 cents a litre.

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