New Brunswick gas prices hit new record
Energy and Utilities Board set gas prices at 142.7 cents a litre
The maximum price for gas jumped to 142.7 cents a litre on Thursday, eclipsing the old record for regulated pump prices that was set in April 2012.
The Energy and Utilities Board reset the regulated maximum fuel prices on Thursday morning and pushed up the cost of gasoline, diesel and home heating fuel.
Drivers across the province may now pay 142.7 cents a litre, which is the highest level since the week of April 5, 2012, when it cost 142.2 cents a litre to fill up.
The New Brunswick government introduced gas price regulation in July 2006.
A year ago, New Brunswick drivers were paying 125.5 cents a litre to fill up their gas tanks.
The Energy and Utilities Board sets the price of gasoline, diesel, heating fuel and propane every Thursday based on the previous week’s trading on the international markets.
The regulatory board sets the maximum price for the products, but it does not set a minimum price, so gas retailers are able to charge lower prices.
New Brunswickers aren’t the only Canadians waking up to higher gasoline prices this week.
According to the TomorrowsGasPriceToday.com website, Vancouver drivers are now paying 151.7 cents a litre to fill up. Meanwhile, Montrealers are paying 151.4 cents a litre.