New Brunswick gas prices are expected to increase by about one penny this week.
When the provincial Energy and Utilities Board makes its weekly price adjustment tonight at midnight, the price of regular gasoline is expected to continue its rise.
Last week, gas prices increased by about one cent to 100.7 cents per litre for regular gasoline, 104.1 cents per litre for mid-grade and 107.5 cents per litre for premium gas.
The highest gas price this year was 104.03 cents per litre in early May, while the 94.4 cents per litre mark reached in August was the lowest price of 2010.
So far this year prices have increased 22 times and decreased 19 times, while staying the same one week. At this point last year, the regular gasoline price was 100.5 cents per litre and in 2008 it was 90.8 cents per litre.
In other regulated regions of Atlantic Canada, Nova Scotia's gas prices dropped to a range of between 107.9 and 109.4 cents per litre in the Halifax area on Nov. 5, with prices slightly higher outside the city. The province's next adjustment is scheduled for Friday.
In Prince Edward Island the last adjustment came on Nov. 1 when prices dropped by 1.5 cents. Prices in that province range from between 99.6.cents to 101.7 cents per litre and the next adjustment is scheduled for Nov. 15.
Yesterday, benchmark crude for December delivery traded around US$87 a barrel. That's similar to where prices were in early October 2008, at which point the maximum retail price of regular gasoline was 118.1 cents per litre.
In other adjustments from last week, diesel dropped to 108 cents per litre, furnace oil remained at 88.7 cents per litre and propane dropped to 96.2 cents per litre.
The N.B. benchmark rate is based on the average daily price at the N.Y. Harbor division of the N.Y. Mercantile Exchange.
