The price of diesel has gone up in Nova Scotia after the province’s utility and review board invoked its interrupter clause.
The minimum price of diesel in Halifax (Zone 1) is now 253.4 cents per liter, a jump from 17.1 cents.
It is the fourth day in a row the price of diesel has gone up. On Wednesday, a liter of diesel was 207.8 cents.
People in Cape Breton are paying the most for diesel in the province, at a minimum cost of 255.3 cents per litre.
According to the Nova Scotia Utility and Review Board (NSUARB), “This change is necessary due to significant shifts in the market price of diesel oil.”
The NSUARB says 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 says it monitors the markets for gasoline and diesel oil daily, and says, conditions should warrant, a new price may be set at any time.