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Gas prices jump 5.8 cents a litre

Motorists in Nova Scotia are paying over a nickel a litre more for gasoline this morning than they did Thursday night.

The Utility and Review Board adjusted the price upward 5.8 cent a litre overnight. Gasoline is now selling for a new minimum of $134.8 in Metro Halifax.

“Investors are a little bit optimistic about what’s happening out there,” said George Murphy with Consumers for Fair Gas Prices. “I hate to see it, but we’ve witnessed the price of commodities increased as well as crude oil.

Murphy told the Rick Howe Show this is an artificial increase as the U.S. government buys up stocks and bonds in an effort to boost the country’s economy. He said more Americans are spending money and have gotten back in the job market which has boosted prices.

This is the second significant increase for Nova Scotia drivers in a row, with prices surging 10 cents a litre over the last two adjustment periods.

“It’s going to get higher and higher every two weeks now,” said Kevin. “Probably to $1.55, like two years ago. When it was that high everyone was taking the bus. A lot of bikes were getting sold from Canadian Tire.”

Speaking to drivers in Halifax Friday morning, Kevin told News 95.7, he’s doing his part to conserve gasoline and money by taking the bus more often. Another man said he walks everyday, while another woman said she’s opted out of the car option altogether because of the cost.

“Personally, I can’t afford to own a car,” said Sue. “The price of gas…I just don’t know why it fluctuates up and down.”

The price of diesel also went up 2.3 cents a litre overnight, selling for $1.387 in the Halifax region.

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gas went up 6 cent but oil went down 5% ??????????

February 01, 2013 at 8:05 am

I think it is time someone explains the price of gas to us common folk. There have been a number of reports lately that Alberta is in a huge deficit position because of falling crude prices. The reports mention that Alberta crude is selling as low as 45 dollars per barrell in the USA just to get rid of it. Cnn reported a few weeks ago that gas had dropped sixty cents a gallon and that they expected it to go even lower, as there was a glut of gas and oil on the market.
On the flip side, we have gone up nearly 10 cents a liter in TWO weeks, which is about 40 cents a gallon.Nowhere, and I mean nowhere, on any site that lists commodity prices, has gasoline gone up near that much! We are being gouged, plain and simple. As for the PUB that supposedly”sets” the price each week, they are nothing but a joke. See also power rates. For comparison sake, LLoydminster Sask. gas prices have remained steady at 97.9cents per liter.

February 01, 2013 at 12:37 pm