Nova Scotia to invoke interrupter clause for diesel oil at midnight

By CityNews Halifax Staff

Posted Jul 25, 2022 07:50:00 PM.

Diesel prices in Nova Scotia will be adjusted at midnight Monday as the province's Utility and Review Board (NSUARB) invokes its interrupter clause.

“This change is necessary due to significant shifts in the market price of diesel oil,” the NSUARB states in a news release.

According to the NSUARB, 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 monitors the markets for gasoline and diesel oil daily and, should conditions warrant, may set a new price at any time.

As of July 22, Nova Scotians in the Halifax area were paying a minimum price of $1.89 per litre for diesel, according to the NSUARB's website.

The price of gasoline will not be affected by the clause.

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