Nova Scotia

N.S. lowers price of diesel, not gas

The price of diesel will be dropping at midnight on Friday, says the Nova Scotia Utility and Review Board.

The price of diesel will be dropping at midnight on Friday, the Nova Scotia Utility and Review Board says.

"This change is necessary due to significant shifts in the market price of diesel oil," the review board said in a news release.

The release states that while there have been market changes in the price of gasoline, they are "not sufficient to warrant changes in the retail price at this time."

Energy prices took a beating in the markets in New York on Thursday.

The review board says it monitors the markets for diesel oil and gasoline daily and may set a new price at any time.

The Petroleum Products Pricing Act and Regulations permits the Board to interrupt the regularly scheduled weekly setting of prices and reset the price to respond to sudden significant increases or decreases in petroleum product prices.

With the price of a barrel of crude oil tumbling this week, Nova Scotia motorists were expecting a break at the pumps Friday. But the price for a litre of gas is staying the same — at least for now.

The price will change over time, and drivers just have to be patient, Dale Madill, a spokesman with Service Nova Scotia, said Friday.  

"The pricing process right now is designed to meet the objectives of stability and keeping the little gas stations open, in making sure that one place isn't a lot higher than the other," he said.

"And they do it over time which is why the trend in the industry is important, and over time, the trend is reflected in the price. But, it doesn't happen overnight."

 

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