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Gas Prices Decrease in Maritime Provinces for First Time Since Late February
Gas prices in the Maritimes fell on Saturday for the first time since late February. Minimum prices dropped by up to 8.4 cents per litre across Nova Scotia, New Brunswick, and Prince Edward Island. The decline occurs amid stalled shipping in the Strait of Hormuz due to the war involving Iran, the United States, and Israel.
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Fuel Price Details Diesel prices also declined in the Maritimes.
The price reductions follow a period of increases linked to global oil market dynamics.
Commentary on Future Prices Constantine Passaris, an economics professor at the University of New Brunswick, commented on the current situation.
The Maritime provinces, including Nova Scotia, New Brunswick, and Prince Edward Island, rely on imported fuel, making them sensitive to international oil disruptions. Regulatory bodies in each province set maximum or minimum prices weekly based on market factors.
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