CBCs Bob Jones' Gas Prediction for 5/30 (Spoiler: -4¢ or more)

GASOLINE TUMBLING

Gasoline prices in New Brunswick are down 10 cents since the end of April, including 5 cents last week - and should dive deeper this week (June 6) by another 4 cents or more. It will be the 5th reduction in prices in six weeks as trading in petroleum markets in New York crater following those three straight months of price increases that started the year. Back to back reductions in the 4 and 5 cent range are rare and a sign of the sudden and severe weakness in markets that could well produce more discounts next week.

DIESEL / HEATING OIL DOWN

Look for diesel and heating oil prices to fall slightly less than gasoline - but at least 3 cents - as reductions in those fuels continue to lag behind. Diesel is down just 5 cents in the last 5 weeks - half the reduction in gasoline - but is at least trending downward.