Ouch! That’s the feeling of fuelling up in N.B
How much will it cost you to fuel up this week?
The Energy and Utilities Board made its price adjustments overnight.
There’s good news for diesel users, prices are down 3.5 cents a litre to a maximum of $2.16.
Furnace oil also decreased, to 1.1 cents a litre, bringing it to a maximum of around $2.09.
Regular self-serve fuel, on the other hand, prices jumped. They’re up 7.1 cents to a maximum of $1.63
The New Brunswick Energy and Utilities Board adjusts prices every Friday at 12:01 a.m.
In Nova Scotia, regular self-serve ranges from about $1.62 to $1.66 per litre while diesel is selling for between $2.11 and $2.15 per litre.
On Prince Edward Island, the maximum prices are almost $1.69 a litre for regular self-serve, $2.19 per litre for diesel and $1.67 per litre for home heating oil.
Fuel prices in the province have been climbing up and plunging back down, like a roller coaster, since the latest conflicts in the Middle East began.
Mount Allison University Political Science Professor Dr. James Devine told our newsroom that the Canadian economy is being impacted.
“The area where the fighting is in the Persian Gulf. There’s a narrow area of the Persian Gulf called the Strait of Hormuz through which about 20 per cent of the world’s oil supply goes, “Dr. Devine said.
“On top of that, a large amount of liquid natural gas also comes from that region. The country of Qatar is one of the biggest producers of liquid natural gas, and it shut down its facilities because of the conflict. All of these things are going to start having an impact on the global economy, in part on oil prices, which we’ve seen already.”
He added different parts of the country have felt the impacts in different ways.
“The price of gasoline is going to go up. The price of consumer products will also go up because transportation costs are going to increase. In part because of the price of gasoline, but also because of insurance. The insurance that’s required for the transportation of oil from the region will go up as well, and it will cost more to ship it to North American markets,” Dr. Devine stated.
