fuel

Another day, another price adjustment by the New Brunswick Energy and Utilities Board.

The interrupter clause was invoked again overnight. This time, it impacted regular self-serve, diesel and furnace oil.

The maximum cost for regular self-serve fuel fell 6.9 cents a litre at 12:01 am on Sunday, to around $1.83.

Diesel dipped 10.3 cents a litre to a maximum of around $2.14.

The maximum for furnace oil now sits at around $2.08, also down 10.3 cents a litre.

Fuel prices have been adjusted seven times in the last ten days.

The federal fuel excise tax is set to be temporarily removed on Monday, which is expected to lower gas prices by around 10 cents a litre and diesel prices by around four cents a litre.

Prime Minister Mark Carney announced the temporary relief last week, stating it will be reduced until Labour Day to help cut costs for Canadians.

This comes as the current Global conflict and ongoing supply disruptions in the Middle East are driving up fuel prices worldwide. 

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.

Ups and downs for fuel prices this week.

The maximum for regular self-serve gas is down 1.6 cents a litre to around $1.39.

Diesel prices jumped again, rising 5.6 cents a litre to a maximum of around $1.94.

Furnace oil rose 4.8 cents to a maximum of around $1.84.

The New Brunswick Energy and Utilities Board made its weekly price adjustments overnight.

In Nova Scotia, regular self-serve ranges from $1.36 to $1.40 per litre while diesel is selling for between $1.81 and $1.86 per litre.

On Prince Edward Island, the price for regular self-serve is around $1.49 per litre, diesel costs around $1.88 per litre, and home heating oil is selling for a maximum of $1.29 per litre.

The New Brunswick Energy and Utilities Board adjusts prices every Friday at 12:01 a.m.