Schools will be closing all across the province this week and families will begin taking their summer vacations.By some miracle — or quirk — most of the island part of this province no longer has the highest gasoline prices in the country.
Last week, drivers in British Columbia were paying $1.55 a litre for gasoline, much higher than us here on the west coast.
Even Ontario and Quebec drivers were shelling out more than in much of this province. Those who claim to be in the know are predicting the price of gasoline will remain at about the same level as it is now for the rest of the summer.
Compared to others across the country, that might be welcome, but this rare situation likely won’t last.
Drivers in this province may be shielded from higher gasoline prices for now but that almost certainly won’t last the whole summer driving season.
We are always dinged more that the rest of Canada and nothing fundamental has changed to make this summer any different.
Trouble in the Iraq is being blamed for a spike in the world price of oil and that increase will eventually hit our shores.
We have a regulated fuel market, but that doesn’t mean drivers are protected from rising gasoline prices.
Sooner or later, the trouble in Iraq will hit us all in the wallet.
As for some good news on fuel costs — the winter heating season is over and it won’t be costing Newfoundlanders and Labradorians a king’s ransome to fill their oil tanks for a few months.