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Optimism gas prices could drop after big spike Friday in Nova Scotia

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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 increase at midnight. Lineups of cars could be seen spilling on the streets near some gas stations.

The increase was a big hit to drivers Friday.

"Well, what'd it go up? Eight cents? So, that's four bucks for half a tank, so that's eight bucks a tank, so that's closing in on $20 a week. Do the math," said driver Ash Stapleton, who has to fill up at least twice a week.

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

Diesel dropped 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 per litre, but an expert is optimistic we'll avoid that milestone as we head into summer.

"There are some caveats that could see us getting to the $2 a litre mark. Things like hurricane season, which can disrupt refineries. There's also the question of Israel and Iran, which overnight we saw an escalation as Israel launched a new attack on Iran," said Patrick De Haan, GasBuddy's head of petroleum analysis.

De Haan said these higher prices shouldn't last too long.

"Probably only pennies per litre, at least for now. It's not going to be a big drop, but we have seen a corresponding drop in the price of oil over the last couple of days. Oil prices now falling back to about $83 per barrel," said De Haan.

"That could provide a little bit of breathing room."

A pump shows the price of gas in Halifax on April 19, 2024. (Stephanie Tsicos/CTV Atlantic)

While Friday's spike was not welcome for drivers, some are trying to look at the bright side.

"Our family's just been blessed with resources and we just know even if things go up, we're still going to make family a priority," said driver Jeremy Shaw.

On Prince Edward Island, gas went up approximately 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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