How much gas went down overnight in the Maritimes

Maritimers saw a price drop for gas and diesel on Friday.

The price of gas and diesel dropped overnight for all three Maritime provinces.

Nova Scotia

The price of regular self-serve gasoline in the Halifax area decreased by 6.1 cents. The minimum price is now 139.0 cents per litre.

“It’s a good thing. Always nice to get lower prices,” said Halifax motorist Mike Duda. “I don’t have to fill up too often, so I watch the price and go when it’s going down.”

Diesel prices decreased by 6.5 cents following an adjustment earlier this week. The new minimum price is 166.1 cents per litre.

The price of regular self-serve gasoline in Cape Breton remains 140.9 cents per litre. The price of diesel is 168.0 cents per litre.

Prince Edward Island

On P.E.I., the price of regular self-serve gasoline decreased by 1.2 cents. The minimum price is now 146.7 cents per litre.

The price of diesel decreased for the second time this week, now by 4.1 cents. The minimum price is now 172.8 cents per litre.

New Brunswick

The price of regular self-serve gasoline in New Brunswick decreased by 4.1 cents bringing the maximum price to 150.2 cents per litre.

Diesel prices decreased by 6.5 cents. The new maximum price is 183.8 cents per litre.

The price of gas and diesel dropped overnight for all three Maritime provinces.

Prices expected to remain stable: McTeague

Petroleum analyst Dan McTeague says gas prices typically drop a bit this time of year because the demand is lower.

“As diesel production has gone up, so has gasoline production, and with demand being pretty stable, it looks like we’re going to see gasoline continue maybe down another couple pennies by this time next week before it actually starts to rebound a little bit in advance of Christmas,” said McTeague.

“I would say this is going to continue at least until the second week of December. For now, the coast is clear, it looks like these prices are certainly a welcome change from what we normally get, especially on the home heating, furnace, oil, and diesel front for this time of the year.”

Welcome news for trucking industry: executive

Chris McKee, executive director of the Atlantic Provinces Trucking Association, says the drop in prices is welcome news for the industry.

“Especially after a period of sustained volatility. Trucking is the economic backbone of Atlantic Canada and fuel is one of our largest operating costs for our members, so any relief at the pump is positive,” said McKee, noting fuel is the second biggest operating expense, after labour.

According to McKee, the average tractor-trailer holds about 300 gallons, or about 1,100 litres, of fuel.

He said it should also benefit consumers and businesses in the region.

“This mechanism helps keep our companies stable, but it also means that anytime diesel prices do fall by this margin, those benefits flow directly to shippers and, in turn, it should be passed along to consumers,” said McKee. “So, because the fuel surcharge goes down when diesel goes down, these reductions should be reflected in the broader supply chains.”