Gas prices jump in the Maritimes
Prices at the pumps increased overnight in all three Maritime provinces.
Nova Scotia
The price of regular self-serve gasoline increased by 5.6 cents per litre in the Halifax-area. The minimum price is now 163.6 cents per litre.
The minimum price for motorists in Cape Breton is 165.6 cents per litre for regular self-serve gasoline.
Diesel prices in the Halifax-area increased by 6.7 cents, bringing the minimum price to 198.9 cents per litre.
The minimum price in Cape Breton for diesel is 200.8 cents per litre.
Prince Edward Island
The price of regular self-serve gasoline on P.E.I. increased by 2.9 cents. The new minimum price is 163.4 cents per litre.
Diesel prices on the island did not change. The minimum price remains 202.9 cents per litre.
New Brunswick
The price of regular self-serve gasoline increased by 6.5 cents in New Brunswick. The maximum price is now 164.9 cents per litre.
Diesel prices increased by 6.8 cents, bringing the maximum price to 210.0 cents per litre.
Pricing fuel
Gas analyst Dan McTeague says, over the past year, there has been a myth that fuel supply outweighed the demand.
“I think the markets are starting to reflect that higher cost, given that the demand is still very strong, it’s still quite robust. Supply, well supply has been dwindling over the past several months.
McTeague says he believes Maritimers will get a slight break at the pumps next week, but warns it likely won’t last.
“I think overall, as we head towards March and April, we are going to start to see prices moving up,” says McTeague.
“One thing that comes very clearly out of this is those who suggested that gas prices would be lower in 2024 than in 2023 may have a been a little rushed in their judgement because it looks like we are going to have a lot more expensive year.”
When it comes to the rising costs, McTeague says carbon tax hikes and the switchover from winter to summer gas are factors, as well as supply chain.
“This time of year you normally see a build in inventory of just about everything, oil, gasoline, diesel, jet fuel, etc. With the exception of heating oil, the fact is we are seeing a crimp in supplies especially on the gasoline and diesel side, and for that reason we are starting to see these prices.”
CTVNews.ca Top Stories
W5 Investigates 'Let me rot in Canada,' pleads Canadian ISIS suspect from secret Syrian prison
W5's Avery Haines tells the story of Jack Letts, a Canadian Muslim convert in a Syrian jail, accused of being a member of ISIS. In part two of a three-part investigation, Haines speaks with Letts, who issues a plea to return to Canada to face justice.
Canadian woman shares methanol poisoning story in wake of death investigation in Laos hostel
Cuddling on the couch with her dog, Ducky, no one would notice that anything is different about Ashley King. Even when she walks across the living room, she doesn’t miss a step. But the 32-year-old has gotten used to functioning with only two per cent vision.
DEVELOPING Liberals, NDP expected to pass GST holiday in House of Commons today, without $250 rebate
Legislation to create a two-month-long GST holiday is expected to pass today after the federal finance minister separated the GST break from a promise to also send $250 to most working Canadians in the spring.
Montreal billionaire Robert Miller could have as many as 100 victims, lawyer says
A Quebec judge is hearing arguments this week in a class-action lawsuit application against Montreal billionaire Robert Miller over allegations he paid minors for sex.
A social media ban for under-16s passes the Australian Senate and will soon be a world-first law
A social media ban for children under 16 passed the Australian Senate Thursday and will soon become a world-first law.
DEVELOPING Lebanon says 2 hurt as Israeli troops fire on people returning south after truce with Hezbollah
At least two people were wounded by Israeli fire in southern Lebanon on Thursday, according to state media. The Israeli military said it had fired at people trying to return to certain areas on the second day of a ceasefire with the Hezbollah militant group.
It's expensive to visit the Maldives. Now it's more expensive to leave, too
The Indian Ocean archipelago nation of the Maldives, known for its white sand beaches and coral reefs, has just increased the price it costs to leave.
Dementia may arrive a decade earlier in men at high risk for heart disease, study finds
Being at higher risk of heart disease may cause dementia to appear in men a decade before it will occur in similarly at-risk women, a new study found.
Latest 'massive' Russian aerial attack cuts power to 1 million homes in Ukraine
Russia conducted a 'massive' attack against Ukraine’s energy infrastructure on Thursday, firing nearly 200 missiles and drones and leaving more than a million households without power, Ukrainian officials said.