Tuesday was another record day for gas prices in Nova Scotia, after they jumped 9.5 cents overnight – just four days after reaching $ 2 a liter in some parts of the province.
The minimum price of regular self-service is now $ 2.08 per liter in the Halifax or Zone 1 area. The new maximum price is $ 2.10.
The biggest jump was in Cape Breton or Zone 6, where the minimum price of ordinary self-service gas is now $ 2.10 per liter. The maximum price is $ 2.12.
There were long queues at some gas stations in Nova Scotia on Monday night after the Utilities and Review Council announced it would invoke its midnight cut-off clause.
The price of diesel did not change on Monday. However, the UARB said on Tuesday that it would invoke the cut-off clause and the price of diesel fuel would be adjusted at midnight.
The price of gasoline will not be affected by the adjustment.
UARB said the price adjustments were “necessary due to significant changes in the market price” of petrol and diesel.
Gas prices are not showing signs of declining, as the average price in Canada exceeds $ 2 per liter for the first time.
Natural Resources Canada says the national average price of regular gasoline reached $ 2.06 per liter on Monday for the highest value of all time.
The average is a jump of nine cents from a record $ 1.97 per liter set last week, up about 30 cents a liter from mid-April.
Gas prices have been rising steadily since late February, when oil jumped to about $ 100 a barrel after Russia invaded Ukraine. Last week, the price jumped to over $ 110 a barrel.
Record high gas prices are fueling disappointment
When Sam Vutcher saw the price of the Halifax pumps this morning, she was shocked.
“I don’t know how anyone will drive anywhere,” Vutcher said.
The latest prices make SUV driver Bill Foster wonder how he will be able to afford fuel in the future.
“I have to take the kids to sports and I have to take the kids to school,” Foster said. “Other things will have to be turned off just to pay for gas.”
In addition to the conflict in Ukraine, gas analyst Patrick Dehaan says high gas prices are also largely linked to the pandemic.
“Global consumption by Canadians and Americans has fallen along with oil prices,” Dehan said. “To the extent that oil companies have begun to suspend production. That was the problem. “
Dehaan said oil production was ruled out during the pandemic. Then, when the economy reopened, Canadians began to leave their homes and travel more.
“Global demand has started to rise,” he explained. “But because of the shutdowns, we quickly developed an imbalance between supply and demand, which grew over time.”
As a result, some believe that Canadian consumers will turn away from oil and gas in favor of electric vehicles.
Electric vehicle advocate Kurt Sampson says he tells his children every day when you grow up, and when you grow up, it will be the other way around. Everyone will drive electric vehicles. “
Sampson has an app on his phone that tracks fuel savings. By switching to an electric vehicle and not buying gas, he aims to have annual savings of around $ 8,000.
“Electric vehicles are cheaper to own and operate,” Sampson said. “If you make the long-term calculation, not just the price of the sticker, they will save you money. They are also better for the environment. “
Sampson said drivers are increasingly switching to electric vehicles, and as fuel prices continue to rise, he expects the trend to increase further in the coming years.
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