The province should be responsible for a drop in gas prices tomorrow. Analyst Dan McTeague says all indicators call for a five or six cent drop for gas, but an increase in diesel fuel — perhaps as much as seven cents. The fuel for heating homes will increase by about six cents.
He says the drop in gas prices would be greater without regulation. In those markets, drivers can see what’s going to happen with pricing a day or two in advance, while in Newfoundland and Labrador, price changes are foisted on us without warning.
He says drivers in other provinces monitor the markets and use the information to judge when to refuel.
Together with the Public Utilities Board, the government is examining how it determines fuel prices.