For the first time in history, the price of gas in most parts of the province has surpassed the $2.00 a litre mark. The regulated price of all fuels is up again today with most fuels up between 7 and 13 cents a litre.
However, Premier Andrew Furey continues to resist calls to step in.
Furey says while the government can’t do anything about the price of fuels, other levers can be pulled to address the overall rising cost of living.
He says he’s asked Finance Minister Siobhan Coady to get creative in a “holistic” way as Budget Day nears on April 7. But he declined to elaborate on what might be coming.
Furey says the government can only control what it can control to tackle the cost of living issues in the province, adding “stay tuned” as officials evaluate everything during the process.
No Short Term Impacts to Marine Atlantic
The rising cost of fuel isn’t expected to have an effect on Marine Atlantic rates, at least in the short-term. Corporation spokesperson Darrell Mercer says that’s because of the way fuel is purchased by the ferry operation.
He says they use a hedging program and negotiate fixed rates for a period of time. Last year, Marine Atlantic lost on some of the rates they had previously negotiated but this year, they’re actually seeing some gains.
“We’re protected to a certain extent,” says Mercer, because the hedging program covers about 70 per cent of their fuel purchases. The other 30 per cent however, are subject to the global market. “We’re continuing to monitor that,” says Mercer, “but there are no immediate changes to our fuel surcharges at this time.”
Many Seniors Struggling with Increased Cost of Living
Seniors are struggling and action must be taken to help those on fixed incomes deal with the rising cost of living.
Mary Moyan is with SOS, or Support Our Seniors, and says many seniors are living with great stress and uncertainty with the rising cost of fuel and groceries.
She says some seniors she’s spoken with have turned off their heat and have resorted to wearing extra clothing indoors and wheeling portable space heaters with them from room to room. As far as the cost of food goes, Moyan says many are reduced to eating canned foods and bread because “fresh vegetables and fresh fruit have been out of reach for a while.”
She says government has to address the problem of seniors living well below the poverty line, and redefine poverty not based on a basic income figure, but according to what is needed in order to live comfortably.