The Nova Scotia Energy Board is using its “interrupter” mechanism to adjust gasoline and diesel oil prices at midnight amid “significant shifts” in the market.
The Board’s interrupter mechanism allows them to respond to spikes in petroleum product prices, according to a news release from the organization.
“News and information on economic factors, geo-political concerns or weather systems can have an immediate impact on these markets,” the release reads. “The Petroleum Products Pricing Act and Regulations permit the Board to ‘interrupt’ the regularly scheduled weekly setting of prices and re-set the price to meet the objectives of just and reasonable prices and security of supply.
“When it is necessary for the Board to invoke the ‘Interrupter,’ the prices of petroleum products will be changed at a time different than the regularly scheduled price setting.”
The release does not say by how much the gasoline and diesel prices will be adjusted.
Self-serve gasoline prices in Nova Scotia dropped by 17 cents last week with the removal of the carbon tax, but they increased by 2.8 cents to a new minimum price of 149.3 cents per litre in the Halifax area on Friday.
The minimum gasoline price is 151.2 cents per litre in Cape Breton.
The Board previously used the interrupter mechanism on gasoline in September 2023 to lower its price by five cents. It last used the mechanism on diesel in January to increase the price by 5.8 cents.
P.E.I., N.B. see significant drops over the weekend
The price of gasoline dropped significantly in Prince Edward Island and New Brunswick over the weekend.
Prince Edward Island
The price of regular self-serve gasoline went down 5.7 cents on Saturday, bringing the new minimum price to 148.5 cents per litre.
Diesel prices decreased by 6.9 cents. The new minimum price now sits at 155.6 cents per litre.
New Brunswick
The price of regular self-serve gasoline in New Brunswick dropped 8.9 cents on Saturday. The new maximum price is 140.9 cents per litre.
Diesel prices decreased 7.6 cents, bringing the new maximum price to 153.3 cents per litre.
For more Nova Scotia news, visit our dedicated provincial page
