HALIFAX – Nova Scotians could see some relief at the gas pumps Wednesday morning after the province’s Utility and Review Board said it will be invoking its interrupter clause.
Gas and oil prices will be adjusted at midnight on Wednesday when the clause takes effect.
In a release from the UARB, it says, “This change is necessary due to significant shifts in the market prices of gasoline and diesel oil.”
The release did not say how much the prices would be adjusted.
“The benchmark prices of gasoline and diesel oil are based on an average of the daily market price for refined product on the New York Mercantile Exchange (NYMEX) converted into Canadian dollars,” read the release.
As of Tuesday, the minimum price of regular gas in Halifax was $1.39 per litre, while those in Cape Breton were paying a minimum price of $1.41 per litre for gas.
The NSUARB monitors the markets for gas and diesel oil daily and may set a new price at any time “should conditions warrant.”
Source: CTV News