Fluctuating gas prices resulted in long line-ups at the pumps in Labrador Wednesday evening.
The Premier says he understands the concerns of residents, but the recent hike in fuel prices in the region are the result of purchases made last year.
Dwight Ball was responding to a 30 cent a litre increase in gas and diesel in storage in Labrador since last fall.
The increase was sought by Woodward’s and Normore’s which would otherwise suffer substantial losses due to an unprecedented drop in world oil prices due to COVID-19 and a global price war.
Premier Ball says the fuel was bought at a price much higher than the cost, and what Labradians are seeing now is the utility board adjusting for that difference.
He says in a few weeks residents can expect to see a dramatic decrease in cost.
Ball says this has been an issue in Labrador for years, dating back to the implementation of weekly regulated gas price adjustments.