It’s going to cost you a bit less for fuel this week in New Brunswick.
For those heating their homes with furnace oil, the price has dropped by 4.7 cents a litre to a maximum of around $1.60.
Maximum diesel prices went down by 1.3 cents a litre to $1.97.
For regular self-serve gas, it decreased 2.2 cents to around $1.66.
The Port of Saint John is experiencing significant growth in shipping container traffic due to recent developments. A new partnership between DP World, the port’s container terminal operator, and the Gemini Cooperation—a collaboration between shipping companies Hapag-Lloyd and Maersk—will commence in February 2025. This alliance is expected to bring larger vessels to the port, potentially increasing container throughput beyond 200,000 TEUs (twenty-foot equivalent units), a milestone yet to be achieved in Saint John.
To accommodate this anticipated growth, DP World has expanded the port’s infrastructure. In November 2024, two additional container cranes arrived from the Port of Virginia, bringing the total to six. These new cranes have an outreach of 65 meters, enabling them to service ships up to 24 containers wide, and a lift height of 40.4 meters, enhancing the port’s capacity to handle larger vessels. The goal is to have these cranes operational by early 2025.
These developments are part of a broader revitalization of the port, aiming to strengthen trade connections between Asia, Europe, and North America. The Gemini Cooperation has set an ambitious target of achieving 90% on-time vessel arrivals, which is expected to enhance the efficiency and reliability of shipping services through Saint John.
In addition to its industrial growth, Saint John has embraced its maritime heritage through initiatives like the AREA 506 Waterfront Container Village. Launched in June 2022, this innovative space repurposes over 60 shipping containers to host retail shops, performance spaces, and food vendors, celebrating the city’s identity as a port city and attracting both residents and visitors.
These combined efforts underscore Saint John’s commitment to enhancing its port facilities and integrating maritime culture into the urban experience, positioning the city as a vital hub in global shipping networks.
Comark Holdings Inc., the Vancouver-based parent company of Canadian retail chains Ricki’s, Cleo, and Bootlegger, has announced plans to wind down the Ricki’s and Cleo brands and downsize Bootlegger.
This decision will affect a combined 129 stores across Canada, including 75 Ricki’s locations and 54 Cleo stores.
Comark Holdings operates a total of 221 stores across eight Canadian provinces, employing around 2,000 people.
The company has filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) as part of a broader restructuring effort.
The closures come amid a challenging period for the company, marked by multiple setbacks, including the COVID-19 pandemic, a November 2021 ransomware attack, and ongoing pressures from rising competition in the fashion retail industry.
Supply chain disruptions have also contributed to the company’s financial struggles.
Retail analyst Bruce Winder notes that middle retail, particularly mall-based stores that are neither low-end nor high-end, has suffered over the last decade.
The pandemic weakened both retailers and consumers, leading to changes in shopping behavior.
Consumers facing high inflation and taxes are opting for lower-cost online alternatives or luxury items, leaving middle retailers struggling to adapt.
Comark is seeking a court order to approve the liquidation of all Ricki’s and Cleo stores, though the storefronts will remain operational during the liquidation period.
The company will continue to explore opportunities for Bootlegger as part of the creditor protection process.
This development highlights the increasing challenges faced by traditional brick-and-mortar retailers in Canada, as many businesses shift towards e-commerce models to meet evolving consumer preferences.
As of January 10, 2025, the New Brunswick Energy & Utilities Board has set the following maximum prices for petroleum products:
These prices include Harmonized Sales Tax (HST) and are subject to change based on market conditions.
In Saint John, New Brunswick, recent data indicates that gasoline prices are approximately 6.16 Canadian dollars per gallon.
Additionally, predictions for January 10, 2025, suggest the following prices:
Please note that actual prices at individual gas stations may vary. For the most accurate and up-to-date information, it’s advisable to check with local fuel retailers or consult the New Brunswick Energy & Utilities Board’s official website.
