What Changes Are Expected in Gas Prices?
The price of gas in Nova Scotia is anticipated to change following the invocation of the interrupter by the Nova Scotia Energy Board. Currently, regular self-serve gas is priced at 152.7 cents per litre, while diesel stands at 216.4 cents per litre.
This marks the third instance the interrupter has been utilized since the onset of the U.S.-Israel war on Iran, which has significantly impacted global energy markets. The first two applications of the interrupter led to a 33-cent increase in diesel prices within a week.
International benchmark Brent crude has seen a dramatic rise, escalating from $72.97 before the conflict to nearly $103 as of March 6, 2026. This surge in crude oil prices is expected to be reflected at the pumps, as noted by energy analysts.
In Edmonton, gas prices have also climbed sharply in response to the geopolitical situation. The highest recorded gas price in the city was $1.896 per litre in 2022, while on March 9, 2026, it reached $1.447 per litre.
According to Suzanne Gray, an energy analyst, “Rising crude oil prices will be passed onto gasoline prices, as is already being seen at the pumps.” Furthermore, she emphasized that there are sufficient supplies of crude oil in North America to sustain refinery operations and continue producing refined products.
However, the ongoing conflict has disrupted critical energy infrastructure, with Torbjorn Soltvedt stating, “A lot of very critical energy infrastructure has been either forced to shut down because of direct damage from drones and missiles.” This disruption has raised concerns about the stability of crude oil production in the Middle East.
As the situation evolves, the impact on gas prices remains a key concern for consumers and industry stakeholders alike. The Energy Board’s intervention is a response to these market fluctuations, but the full extent of the changes is yet to be determined.
Details remain unconfirmed regarding how long these price adjustments will last and whether further increases are on the horizon.
