Gas regulation good for N.B. drivers: study

A new study says New Brunswick drivers have saved money with regulated gas prices but the province's energy minister doesn't buy it.

The former Conservative government started regulating gas prices in 2006 when the province faced some of the highest prices in Atlantic Canada.

Since regulation, consumers have enjoyed minor savings, according to a study by University of New Brunswick economics professor Rod Hill.

Regulation has made the cost of gas more fair and more predictable, Hill said.

"We can have a greater sense that there's a fair process underlying that [pricing]," he said.

But Energy Minister Jack Keir, whose Liberal government inherited gas regulation when it came to power, said he doesn't think regulation is the reason for the savings.

"I think one of the major reasons we have low gas prices — certainly lower than the rest of Atlantic Canada — is the first day in office we cut the tax on gasoline by 4.3 cents," Keir said.

Under the regulation system, maximum gas prices are set every Thursday by the New Brunswick Energy and Utilities Board.