New Brunswickers paying more for gas than in unregulated markets, report suggests
A new report suggests New Brunswickers paid $15 million more than they had to for gas since the province began regulating fuel prices back in 20016.
Atlantic Institute for Market Studies CEO Marco Navarro-Genie tells CBC that the government has more pressing matters to attend to than regulating gas prices and suggests turfing regulations altogether.
The study compared fuel prices in Atlantic Canada with baseline prices in markets where fuel prices are not government regulated.
But Energy and Resource Development Minister Rick Doucet says New Brunswick regulatory system aims to ensure the lowest price possible for fuel without putting supplies at risk.
Doucet says fuel prices are approximately 1.6 cents below the Canadian average, noting that government currently has no plan to change regulations.
(with files from CBC)