There is even less pain at the gas pumps this morning, if you need to fill up.
The province saw another drop in its prices overnight. The Energy and Utilities Board decreased the cost of regular self serve by 4.5 cents a litre.
Most stations in Moncton are now selling for around 89 cents a litre.
Gasbuddy.com Senior Petroleum analyst Dan McTeague says this is great news for motorists, but this could potentially have a very negative effect on us in other ways.
He says, “Energy affects every aspect of the economy. Oil, petroleum companies and investors are now going to pull off any talk of capital expenditures in order to address the fundamental drop in the commodity price, which leaves most Producers in an awkward situation where they have plenty of supply, but no buyers.”
The province saw large decreases in other fuel prices as well. Diesel is down 3.5 cents a litre. Furnace oil dropped by 3.6 cents, and propane decreased by 1.2 cents.
