New Brunswick drivers are heading into the Canada Day long weekend with the lowest gasoline prices in the Atlantic region, according to statistics compiled by the provincial government.
The province’s gas regulator has set prices at 116.85 cents per litre heading into the long weekend, which tends to be a heavy travelling period for many New Brunswickers.
Drivers who are heading across the Confederation Bridge will be paying 118.4 cents per litre during their vacation on Prince Edward Island.
The price of gas continues to rise around the region.
The maximum price of Nova Scotia gasoline is 120.2 cents per litre and 123.4 cents per litre in Newfoundland and Labrador.
The provincial government’s statistics show the eastern Canadian average for gasoline is 123.5 cents per litre.
The Canadian market average is 123.8 cents per litre.
New Brunswick gas prices have been trending down consistently for about two months.
Drivers were paying 142.2 cents litre on April 5 and those prices have dropped by more than 22 cents a litre.
The April gas price was the highest price for gasoline since the provincial government implemented a regulated gasoline system in 2006.
The Energy and Utilities Board sets maximum prices every Thursday based on the average prices of commodity trading on the international markets during the previous week.
Retail stations are allowed to sell gas for less than the maximum prices.
Drivers in the Fredericton area have routinely been paying less than the maximum price for gasoline.
A recently-opened Costco store has been credited for instigating a gas war in the capital city.
When the store opened last September, gasoline at the Costco gas bar was selling for 13 cents per litre cheaper than the maximum price.
One Fredericton-area gas station has closed down in recent months and blamed Costco for the decision.