HomeBusinessNS optimistic gas prices could drop after Friday's spike Achi-News

NS optimistic gas prices could drop after Friday’s spike Achi-News

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Achi news desk-

Gas stations across Halifax were quieter than usual after a price hike of nearly 10 cents for gasoline hit the province on Friday.

Thursday night was a different story, as drivers raced to fill up before the midnight increase. Rows of cars could be seen spilling onto the streets near some gas stations.

The increase was a big blow to drivers on Friday.

“Well, what’s it going up? Eight cents? So, that’s four bucks for half a tank, so that’s eight bucks a tank, so that closes in at $20 a week. Do the math,” said a driver Ash Stapleton, who must fill in at least twice a week.

In Halifax, the minimum regular self-serve gasoline price is now 185.0 cents per litre.

Diesel fell by a few cents, and the minimum is now around 186.0 cents per litre.

Many people are keeping a close eye on prices as they edge towards 200.0 cents a litre, but an expert is hopeful that we will avoid that milestone as we start the summer.

“There are some caveats that could see us reach the $2 per liter mark. Things like hurricane season, which can disrupt refineries. There is also the question of Israel and Iran, which we saw overnight escalate as Israel launched a new attack on Iran. ,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

De Haan said these higher prices should not last too long.

“It’s probably only pence a litre, at least for now. It’s not going to be a big drop, but we’ve seen a corresponding drop in the price of oil over the last few days. Oil prices are now falling back to about $83 a barrel,” De Haan said.

“That might provide a little bit of breathing room.”

Although Friday’s spike was not welcome for drivers, some are trying to look on the bright side.

“Our family has just been blessed with resources and we know that even if things come up, we’re still going to make family a priority,” said driver Jeremy Shaw.

On Prince Edward Island, gas increased by around four cents to a minimum price of 177.6 cents per litre. Gasoline prices were unchanged in New Brunswick.

For more Nova Scotia news visit our dedicated provincial page.

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