The plummeting of global markets due to the new coronavirus outbreak will result in relief at the pumps for Nova Scotians.
The Nova Scotia Utility and Review Board will be invoking its interrupter clause due to significant shifts in the market prices of gasoline and diesel oil.
“Pump prices will be changed at midnight tonight,” the board said in a news release.
The average price of regular gasoline in Nova Scotia is $1.07 per litre. It’s unclear how much the price will change at midnight.
In Toronto, petroleum analyst Roger McKnight told Global News that Ontario’s capital will be seeing a drop of approximately 10 cents per litre on Wednesday.
Prince Edward Island saw a six-cent-per-litre decrease on the price of gas, diesel and furnace oil on Tuesday.
The decrease is the result of a collapse of an oil supply cut agreement between Saudi Arabia and Russia, coupled with the uncertainty and less demand for oil amid the COVID-19 outbreak, according to McKnight.
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