Gas prices expected to jump 4 cents a litre
Could be biggest spike so far this year
CBC News
Posted: Aug 8, 2012 3:50 PM AT
Last Updated: Aug 8, 2012 5:11 PM AT
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Gasoline prices in New Brunswick may jump more than four cents a litre by Thursday morning, making it possibly the largest increase so far this year.
Up until now, the biggest jump was 4.6 cents on July 12.
But week-long worries about the wobbly path of Hurricane Ernesto through the oil rich Gulf of Mexico has caused a spike in petroleum trading that could cause an even higher jump at the pumps.
Motorists in some communities could be paying nearly $1.30, a price last seen in the province in May.
Gas prices in the province are set weekly by the province's Energy and Utilities Board based on New York Harbor spot prices during the previous week.
Those prices escalated significantly beginning last Friday as Ernesto neared Gulf waters.
Diesel and heating oil prices are also expected to climb on Thursday, but only about half as much as gas.
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