The price of diesel jumped overnight Friday following the Nova Scotia Utility Review Board’s (NSUARB) invocation of the interrupter clause.
The minimum price for diesel in Halifax is now 184 cents per litre — an increase of 10 cents.
People in Cape Breton are paying the most for diesel in the province, at a minimum of 186 cents.
“This change is necessary due to significant shifts in the market price of diesel oil. The pump price will be changed at midnight tonight,” the NSUARB wrote in a news release Friday.
The price of gasoline didn’t change.
According to the NSUARB, the 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 says should conditions warrant, a new price may be set at any time.
