Gas price prediction: 3-cent jump coming at midnight
Posted Aug 28, 2014 07:36:30 AM.
This article is more than 5 years old.
HALIFAX – Look for the price of gasoline to jump heading into the Labour Day long weekend.
News 95.7 has gone over the numbers and is predicting regulated prices will rise by about three cents per litre at midnight Thursday.
George Murphy of Consumers for Fair Gas Prices says prices are up on speculation that it will be a busy driving weekend.
“I guess you could say this is the last kick at the gas can for any investors out there anticipating that people were going to be getting on the road for Labour Day weekend, and they may be right,” said Murphy.
“It’s the same thing that we see every year. This last week, we see that run-up bythe investors as they try to manage to grab a last bite out of the summer driving season.”
But Murphy expects prices to fall once September comes around.
“You see some slight building in gasoline inventories, but at the same time you don’t see those inventories being consumed like they are in the summer,” he said.
Regulated gas prices were up in New Brunswick Thursday morning. That province’s regulator moved the minimum price up 2.6 cents per litre to $1.34.
