Never before in regulation history has the price of gasoline in Nova Scotia decreased twice in two days, which is what happened when the Utility and Review Board adjusted prices both Wednesday and Thursday evening.

The price of gas has dropped 9.1 cents/litre since midnight Wednesday. Regular self-serve is now selling for $1.343 in Metro Halifax, saving motorists $4.55 on a 50-litre fill.

The UARB invoked the interrupter clause Wednesday night, dropping the price 6.1 cents/litre due to volatility in the marketplace.

On Thursday, gas price predictions were both up, down and nil as the board prepared to make its regularly scheduled adjustment. The UARB ended up dropping the price a further three cents a litre.

The price of diesel also dropped overnight by 3.4 cents/litre and is now selling for $1.295.

This time last year, Nova Scotians were paying $1.23 for gas and $1.24 for diesel while oil was selling at $80.51 US a barrel. Yesterday’s closing price was $91.87.

Nova Scotia cabinet minister John MacDonnell said he sees Wednesday’s drop in gas prices as good news.  He said the activation of the ‘interrupter clause’ is an indication that the Utility and Review Board is watching the markets closely.   

“I buy gas, I like to see the price as low as possible,” he said.  “I think it indicates that regulation does work.  I think people are much more easily convinced of that when prices go down rather than when prices go up.”