Nova Scotia regulator expected to drop gas, diesel prices Wednesday
Oil prices have plummeted globally, triggered by fears of COVID-19 triggering a global recession
The price of gas and diesel in Nova Scotia is expected to take a big drop beginning Wednesday.
CBC News reporter Robert Jones, who makes gas price predictions for the network, is expecting the price of both fuels to drop by about 10 cents a litre.
The Nova Scotia Utility and Review Board (UARB) announced on Tuesday in a news release it will be using its "interrupter" mechanism. Nova Scotia gas prices usually change first thing Friday, but the UARB can change the prices at any time if the market conditions warrant it.
While the UARB didn't specify what direction prices would be heading, the price of heating oil and gas took a dive in P.E.I. on Monday in an unscheduled price change by that province's regulatory body.
Oil prices have plummeted globally, triggered by fears the spread of COVID-19 could trigger a global recession and an oil price war between Saudi Arabia and Russia.
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