Drop in gas prices stirs deregulation debate in N.S.
Even though gas prices are at their lowest level in about two years, some experts suggest Maritimers are still paying more than they should.
Pump prices have been dropping recently, thanks mostly to big drops in the price of oil.
Unlike most Canadian provinces, gas prices are regulated throughout Atlantic Canada and are set based on market value.
Marco Navarro-Genie with the Atlantic Institute for Market Studies says, on average, consumers pay between two-tenths-of-a-cent to a cent-and-a-half more in the region per litre because of the intervention.
“The people who are setting the prices for the regulatory body doesn’t seem to get it all together straight and have consistently added prices that are higher,” says Navarro-Genie.
Wayne Pace owns a gas station in Tantallon, N.S. He says regulation reduces price volatility and protects small independent retailers.
“Back before regulation it wasn't uncommon to have the price change three or four times a day,” says Pace.
Back in April, Premier Stephen McNeil said his government was considering deregulation, but said there was no timeline to make it happen.
With files from CTV’s Kelland Sundahl