Small price jump anticipated at the pumps
Posted Feb 21, 2013 08:00:39 AM.
This article is more than 5 years old.
It looks like the price of gasoline is on its way up in Nova Scotia.
News 95.7 is predicting that when prices are reset at midnight, a litre of regular self-serve will increase by about two cents a litre.
George Murphy with Consumers for Fair Gas Prices says nervous market conditions are creating volatility.
“The markets are on a bit of a hedge point. They’re a little bit twitchy…a little bit of trepidation, a little bit of fear out there in the market,” said Murphy.
Murphy said next week could be just as volatile as indications of a slowdown in the U.S. economic recovery play into market prices.
“The stimulus programs could be ending very shortly and that’s caused a lot of investors to pull out of the market too, at the same time,” said Murphy. “If the U.S. is going to stop stimulating this market and investors are pulling out money, that tells you right off the bat, the investors don’t have too much confidence in the economic recovery in the U.S.”
Regulated gas prices are up this morning in New Brunswick by an even three cents a litre. The maximum price service stations can charge in N.B. is now set at $1.37.2.
