N.S. gas prices jump by 9.5 cents; price of diesel to be adjusted at midnight
Tuesday was another record-breaking day for gas prices in Nova Scotia after they jumped by 9.5 cents overnight -- just four days after they had reached $2 per litre in some parts of the province.
The minimum price of regular self-serve is now $2.08 per litre in the Halifax area, or Zone 1. The new maximum price is $2.10.
The biggest jump was in Cape Breton, or Zone 6, where the minimum price of regular self-serve gas is now $2.10 per litre. The maximum price is $2.12.
There were long lineups at some Nova Scotia gas stations Monday night after the Utility and Review Board announced that it would invoke its interrupter clause at midnight.
The price of diesel did not change Monday. However, the UARB said Tuesday that it would invoke the interrupter clause, and the price of diesel oil would be adjusted at midnight.
The price of gasoline won't be affected by the adjustment.
The UARB said the price adjustments are “necessary due to significant shifts in the market price" of gasoline and diesel.
Gas prices are showing no signs of letting up as the average price in Canada tops $2 a litre for the first time.
Natural Resources Canada says the average price across the country for regular gasoline hit $2.06 per litre on Monday for an all-time high.
The average was a nine-cent jump from the $1.97 per litre record set last week, and is up about 30 cents a litre since mid-April.
Gas prices have been climbing steadily since late February when oil spiked to around US$100 a barrel after Russia invaded Ukraine. The price jumped to over US$110 per barrel last week.
Record-high gas prices fuel frustration
When Sam Vatcher saw the price at the pumps in Halifax this morning, she was shocked.
“I don’t know how anyone is going to drive anywhere,” said Vatcher.
The latest prices have SUV driver Bill Foster wondering how he will be able to afford fuel going forward.
“I’ve got to get kids to sports and I’ve got to get kids to school," said Foster. "Other stuff is going to have to get cut out just to pay for gas.”
In addition to the conflict in Ukraine, gas analyst Patrick Dehaan says the high gas prices are also largely linked to the pandemic.
“Canadians and Americans’ global consumption plummeted along with oil prices," said Dehaan. "To the degree that oil companies started shutting down production. That was the problem.”
Dehaan said, during the pandemic, oil production went offline. Then, as the economy reopened, Canadians started leaving their homes and travelling more.
“Global demand started going back up," he explained. "But because of the shutdowns, we very quickly developed an imbalance between supply-and-demand that has grown over time.”
As a result, some feel Canadian consumers will move away from oil and gas in favour of electric vehicles.
Electric vehicle advocate Kurt Sampson says he tells his children every day, “when you are older, and when you grow up it will be the opposite. Everybody will be driving electric vehicles.”
Sampson has an app on his phone that tracks fuel savings. By switching to an electric vehicle and not purchasing gas, he is on pace to have yearly savings in the range of $8,000.
“Electric vehicles are cheaper to own and operate," said Sampson. "If you do the long-term calculation, not just a sticker price, they will save you money. They are also better for the environment.”
Sampson said drivers are increasingly switching to electric vehicles, and with fuel prices continuing to climb, he expects the trend to increase even more in the coming years.
CTVNews.ca Top Stories
Several flight attendants from Pakistan have gone missing after landing in Canada
Multiple flight attendants from Pakistan International Airlines have abandoned their jobs and are believed to have sought asylum in Canada in the past year and a half, a spokesperson for the government-owned airline says.
Doctors visiting a Gaza hospital are stunned by the war's toll on Palestinian children
An international team of doctors visiting a hospital in central Gaza was prepared for the worst. But the gruesome impact Israel’s war against Hamas is having on Palestinian children still left them stunned.
BREAKING Ottawa public school board, 3 Toronto-area school boards launch lawsuit against social media giants
The Ottawa-Carleton District School Board and three school boards in the Toronto-area have launched legal action against social media giants, accusing them of "disrupting students' fundamental right to education."
Crypt near Marilyn Monroe and Hugh Hefner could fetch US$400,000 at auction
A one-space mausoleum crypt in the vicinity of Marilyn Monroe and Hugh Hefner will go on auction Saturday, when it is expected to reach between US$200,000 and $400,000.
This Toronto restaurant is no longer accepting tips. Here's how it's going
A Toronto restaurant introduced a surprising new rule that reduced the cost of a meal and raised the salaries of staff – tipping is no longer accepted.
A Nigerian woman reviewed some tomato puree online. Now she faces jail
A Nigerian woman who wrote an online review of a can of tomato puree is facing imprisonment after its manufacturer accused her of making a “malicious allegation” that damaged its business.
Premiers not being truthful about carbon tax, Trudeau says while sparks fly in Ottawa
Prime Minister Justin Trudeau says Conservative premiers across the country are 'not telling the truth' when it comes to the carbon tax. Trudeau's comments came as fresh sparks were flying in Ottawa at a recalled House of Commons committee.
Far North police 'dispatch' polar bear stalking schoolyard
Police and local hunters in an Ontario Far North First Nation community have “dispatched” a polar that was showing abnormal behaviour and treating the area as a hunting ground.
Cargo ship had engine maintenance in port before Baltimore bridge collapse, officials say
The cargo ship that lost power and crashed into a bridge in Baltimore underwent 'routine engine maintenance' in port beforehand, the U.S. Coast Guard said Wednesday.