Price of gasoline up 9.3 cents in Nova Scotia after interrupter clause invoked

We speak with Dan McTeague of Canadians for Affordable Energy about climbing prices at the pumps, and how high they could go.

Gas prices in Nova Scotia increased overnight Monday after the Nova Scotia Energy Board used the interrupter clause to change the price of gasoline.

The board said the changes are because of “significant shifts in the market price”.

In the Halifax-area, the price of regular self-serve gasoline increased by 9.3 cents. The minimum price is now 162.0 cents per litre.

The price of diesel was not impacted.

In Cape Breton, the new price of regular self-serve gasoline is 163.9 cents per litre.

Diesel and gas prices have not changed this week in Prince Edward Island or New Brunswick.

The next scheduled adjustment for all three Maritime provinces is Friday.

‘Everywhere has seen this price spike’

Dan McTeague, the president of Canadians for Affordable Energy, says gasoline prices have increased about 23 cents a litre in Atlantic Canada and diesel has gone up about 34 cents since March 3.

“Markets have responded by watching oil or pushing oil back down by another eight or nine dollars a barrel, and with it, a decrease as early as Thursday at the pumps in pretty much everywhere across North America, certainly here in Canada of at least seven maybe eight cents a litre for gasoline and nine cents a litre for diesel,” he said.

“If this holds, it means that we’re going to start to see a wind down of these high prices. Maybe back to the levels we saw back just a week-and-a-half ago, at the end of February.”

In an interview with Your Morning Atlantic’s Crystal Garrett Tuesday, McTeague says the positive effect of the spike is that gas prices will have to come down at some point. He thinks we could start to see a drop as soon as Thursday and Friday.

“In a country like the United States, which is extraordinarily sensitive to the price of gasoline, not just economically but politically, the government must change course. That is what seems to be what Donald Trump did Monday signaling this war must come to an end. We are seeing the likelihood that we are going to see prices drop certainly by Thursday and Friday.”

Chris McKee, president of the Atlantic Canada Trucking Association, said price may remain volatile as long as conflicts continue.

“With global conflict affecting oil markets, we may continue to see this volatility which creates a lot of uncertainty for our members and for trucking companies in general and the broader supply chain,” he said.

Many motorists in Halifax are expressing their worries of increasing costs due to the conflict.

“Very concerned. No one has any extra money right now. Certainly, everyone is struggling with all of their regular costs,” said Jane Jensen.

“And then with the conflict that’s happening in the world, we don’t know where it’s going to go.”

With files from CTV Atlantic’s Jonathan MacInnis.

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