New Brunswick motorists awoke Thursday to find that gas prices had dropped below $1 per litre, with Nova Scotia expected to follow suit on Friday.
Most motorists were paying $0.97 to $0.98 per litre on Thursday – the lowest prices in five years.
According to Statistics Canada, Maritime motorists are saving roughly $14 million a week on gasoline, compared to this time last year.
“It’s better for me as well because people come in and they are more apt to say, ‘I can get a bag of chips today because I didn’t spend so much on my fuel,’ so I think it’s good for everyone,” says gasoline retailer Michele Merrett.
“Can’t beat the price of gas now, saving lots of money,” says Greg Westjack. “I go to school so it helps a lot.”
While many Maritime motorists are breathing a sigh of relief, others feel the price of gas is still too high, considering the world price of oil.
“I think it should be much lower,” says Mike Bowling. “And we’re not seeing it in stores. There’s a lot of products that are in the stores that the major cost is the transportation, actually more than the product.”
As gas prices fall, so does the amount of tax collected by government, but Nova Scotia Finance Minister Diana Whalen says she isn’t worried about the impact on government right now.
“It is good news for consumers and we certainly have looked at it, but it won’t have an immediate impact on our finances,” says Whalen.
While motorists are enjoying a break at the pumps, many say they don’t expect the trend to last.
Prices are expected to increase by up to two cents per litre in some parts of the country by Friday.
With files from CTV Atlantic's Mike Cameron
