The New Brunswick government is reviewing the Petroleum Products Price Act and is seeking the views of the public and stakeholders.
The legislation provides the legal framework for setting the maximum prices at which gasoline, diesel, furnace oil and propane can be sold in the province. The aim of the legislation is to cut down on daily price volatility.
Energy Minister Craig Leonard says the government wants to improve regulations so New Brunswickers can "continue to enjoy low and stable petroleum product prices framed by effective regulation."
The deadline for comments is June 6.
In April, the regulated price of gasoline soared to record highs in the province.
Premier David Alward said last month that he has no plans to deregulate gasoline prices in New Brunswick and that drivers have benefited from the introduction of regulated gas prices.
Nova Scotia Premier Stephen McNeil has said his province is looking at deregulating gasoline prices.