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Gas prices expected to fall significantly this week

With an increase in supply, gas prices are expected to fall
Gas prices
A motorist reaches for the pump at a gas station on Feburary 24, 2011. THE CANADIAN PRESS/Patrick Dell

HALIFAX - Look for a significant drop in the price for gasoline overnight into Friday. 

News 95.7 has gone over the numbers and predicts when prices are reset at midnight they will fall by about a nickel per litre.

George Murphy of Consumers for Fair Gas Prices tells News 95.7 market indicators show a build in supply. 

"They're pumping hand over fist taking advantage of that $80 mark right now and we saw that price of oil retreat $4 or $5 a barrel since last week, so it's good news for consumers this time around particularly at the pump," Murphy said.

In New Brunswick, prices fell by 4.9 cents Thursday morning to a new maximum price of $127.7/L.

Dan Ahlstrand

About the Author: Dan Ahlstrand

Dan Ahlstrand is the Managing Editor at News 95.7 and anchors The Morning News on News 95.7 each weekday morning from 5:00 a.m. to 9:00 a.m.
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