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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.