Nova Scotia invoking interrupter clause for diesel oil, gas prices will remain the same
The prices for a litre of diesel and various grades of gasoline are seen on a gas pump at a Petro-Canada station, in Burnaby, B.C., on Wednesday, March 2, 2022. (THE CANADIAN PRESS/Darryl Dyck)
The price of diesel in Nova Scotia will be adjusted at midnight on Monday, as the province's Utility and Review Board (NSUARB) invokes its interrupter clause.
The NSUARB says the change is needed due to “significant shifts in the market price of diesel oil.”
The price of gasoline will not be affected by this interruption.
According to the NSUARB, the benchmark price of diesel oil is based on an average of the daily market price for refined product on the New York Mercantile Exchange (NYMEX) converted into Canadian dollars.
The Retail price paid at the pump is the benchmark price with wholesale margin, retailer markup, transportation allowance, cost of carbon, an adjustment for retail margin, and taxes added.
The NSUARB says it monitors the markets for gasoline and diesel oil daily, and should conditions warrant, a new price may be set at any time.
On Monday, the minimum price of diesel in Halifax was $2.02 per litre, while those in Cape Breton were paying a minimum price of $2.04 per litre for diesel.
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