Pain at the pumps: Maritime gas prices expected to soar once again
As experts anticipate a jump in fuel prices across Nova Scotia, some gas stations saw lineups Thursday while regular fuel sat at $1.79 a litre.
With that estimation, Frankee Ayre says he didn't hesitate to fill up.
"They are actually quite high right now and that's why I am here today, just in case they [gas prices] go up tonight," said Ayre. "I wanted to make sure I got in on it before I had to pay more."
In New Brunswick, the price of gas jumped 9.3 cents per litre overnight. The new max price is $1.91 per litre.
As for diesel, it's up to a record of $2.58 per litre.
Back in Nova Scotia, prices are sitting a little cheaper as Premier Tim Houston says his government continues to monitor the cost of oil, but is not offering further supports for those feeling pinched by the rising costs.
"We’ll look for ways to support Nova Scotians who are under incredible pressure from the increased cost of living," said Houston. "Everything is putting pressure on Nova Scotians. So we are constantly looking for ways to support them."
In March, the Houston government announced a one-time payment of $150 for Nova Scotians eligible for the heating assistance rebate program.
In the meantime, expect little to change when it comes to prices at the pump, as gas analyst Dan McTeague says the supply can’t keep up with the demand.
"Whether this happens because of the shortening of supply and production, which is deliberate as a consequence of divestment strategies, or whether it’s to restrict pipelines in Canada, the effect is the same," said McTeague. "Canada which has the third-largest provable reserves of oil in the world can’t get those products to market to alleviate the crunch."
McTeague says Canada needs to hike its oil production by more than three million more barrels per day.