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Breakdown - Gasoline & Diesel Oil prices - as of the last pricing date(s) – Zone 1
- Nova Scotia Department of Finance - Statistics
Nova Scotia's year-over-year inflation for fuel oil was...
- Nova Scotia Department of Finance - Statistics
- 1 Fuel Price Update Synopsis
- 2 Fuel Prices
- 3 Impact of Fuel Prices on Reimbursement Rates
Corporate Fleet Services (CFS) has been mandated by the Treasury Board of Canada Secretariat to perform the annual evaluation of per-kilometre Reimbursement Rates for government employees that are required to use their personal vehicles while performing government business. Furthermore, the periodic impact of varying fuel prices was to be evaluated...
2.1 Energy market context
Over the last three months, two main events have affected the oil market – the overproduction of crude as well as the severely reduced economic activity due to the coronavirus COVID-19 global pandemic. In March, the combination of the failure to reach an extension on the OPEC+ agreement as well as the influence of the pandemic led to an oil price drop of more than 60% in one month, reaching a 20-year low of $20-$25 USD per barrel. Subsequent OPEC+ discussions and a new production cut agreemen...
2.2 Gasoline prices across Canada
Gasoline prices in Canada were relatively stable from November 2019 until early March 2020. However, following the fall of crude oil prices as well as being further suppressed by the effects of the measures imposed to limit the spread of COVID-19, gasoline prices dropped rapidly in March. The average gasoline price in Canada fell every day for 20 days straight between March 6th and March 26th, declining in total by 37.8 cents or 33.5%. Gasoline prices fluctuated around this low level througho...
2.3 Sales taxes
For the current Update, research was performed to see if there were any relevant changes to Federal and Provincial sales taxes that could have an immediate impact on the Reimbursement Rates. As of the date of this Update, no changes were observed in sales taxes anywhere in Canada as compared to the previous Annual Report. Moreover, no changes are foreseen at this time for the immediate future.
3.1 Fuel consumption
In calculating the fuel costs contribution to the total vehicle operating costs, the methodology employed in the Annual Report was strictly adhered to. Fuel consumption for every vehicle model in the study was thus combined with average prices per Province or Territory to determine the fuel portion of operating costs, based on an average of 20,000 kilometres per year.
3.2 Updated Reimbursement Rates
For comparison, the following table provides updated Travel and Commuting Rates, as well as rates previously calculated for the November 2019 Annual Report (for publication on January 1st, 2020) and the February 2020 Fuel Update (for publication on April 1st, 2020): Current Fuel Update Reimbursement Schedule (in dollars per kilometre) Note: All figures were rounded up to the nearest half-cent. The impact of gasoline prices on the Reimbursement Rates was moderate for the present Fuel Update. I...
Aug 27, 2022 · An increase in diesel oil prices in Nova Scotia has some worried about how much it will cost to heat their homes this winter. Petroleum industry analyst Patrick DeHaan expects the price...
Nova Scotia's year-over-year inflation for fuel oil was 19.3%, the second fastest growth among provinces. Nationally, the fuel oil and other fuels index increased 10.1% compared to May 2023. On a monthly basis, Nova Scotia's fuel oil prices were down 4.9%.
Apr 1, 2024 · Historical Prices. A schedule showing history of price interruptions is available. Documents relating to interruptions are included in the list below.
Mar 16, 2022 · As Nova Scotia prices are regulated, it looks like about 10 cents a litre from today's price. There was some talk about getting the Saudis to release some of their reserves. What's...
People also ask
Does Nova Scotia have a fuel oil market?
How did Nova Scotia's fuel oil prices compare to April 2023?
Will diesel oil prices increase in Nova Scotia this winter?
Who regulates oil prices in Nova Scotia?
The benchmark price prescribed by the Board is the average of the average of the daily high and low reported product prices (in Canadian cents) since the last benchmark price adjustment for the petroleum product.
