After five years of triple-digit gas prices, Maritime motorists are starting to see prices fall into the double-digits. Prices in New Brunswick are expected to fall below $1 per litre Wednesday evening.
“I didn’t think it would ever go back to this. Thank God it is,” said Saint John motorist Dave Whittaker. “It’s just nice to see us getting a break for a change, you know, we’ve been gouged for so many years. It’s not right.”
Prices are down about 30 cents a litre compared to what they were at the beginning of 2014, thanks to a drop in oil prices across the globe.
But while Maritimers are spending less on gas, many say the extra cash is just helping to pay other bills.
Motorist Stuart Cropley says he is saving about $20 to $30 a week and the extra cashis helping to cover Christmas costs.
“Some Christmas shopping, get ready for the holidays and help out with the family,” says Cropley.
Randy Hatfield of the Saint John Human Development Council says the drop in prices may mean a boost in local economies.
“Any windfall enjoyed by a person on a limited budget is going to be spent and it will be spent locally and there will be a multiplier effect and there may be a short-term bump in some indicators showing the economy is improving because more people are spending,” says Hatfield.
“We haven’t seen prices below a dollar since 2009, January 2009, so this is a big deal for Canadians,” says Gary Howard of CAA.
Howard says CAA surveyed motorists about the falling gas prices. Most participants said they believed the decline would be short-lived and that they expect prices will start rising again by the spring, if not before.
With files from CTV Atlantic's Mike Cameron
