Better Gas Information Available

The Nova Scotia government announced today it will take steps to put better gasoline pricing information into the hands of consumers.

Cabinet approved changes to the motive fuel regulations that will soon require gasoline retailers to post prices at roadside. Changes will also require restricted-access facilities, or card- lock outlets, to post the price including harmonized sales tax at the pumps.

The departments of Natural Resources and Business and Consumer Services will also make weekly gas price comparisons available on the government website.

The announcement comes after a careful assessment of options to address rising gasoline prices and an examination of actions in other jurisdictions.

Mandatory signage requirements will come into effect on June 15 and will be monitored by officials from the Department of Environment. Neil LeBlanc, Minister of Business and Consumer Services, said that many retailers already post gas prices and only those who currently do not will be affected by the new rule. Non-compliance may result in a fine.

Recent high gas and home heating oil prices have sparked calls for the province to re-introduce regulation, but the minister ruled that option out. He said regulation did not help consumers.

"Nova Scotians were paying some of the highest prices in the country during regulation. Deregulation actually brought prices down compared to what consumers elsewhere in Canada were paying," said Mr. LeBlanc. "No other province is turning to regulation as the answer because it just doesn't make sense. Regulating gas prices just delays price increases and makes it harder to quickly pass on savings to consumers."

Nova Scotia is not the only area feeling the pressure of high gas and home heating fuel prices. Consumers everywhere are paying higher prices for gas while consumers in Eastern Canada and the northeastern United States are paying higher than average prices for home heating fuel. Gasoline price monitoring information is available on the government website at www.gov.ns.ca/natr .

Crude oil, which accounts for a large percentage of the price of gas and home heating fuel, is more than double the price of a year ago. Most of the price increases have been due to reduced production by the Organization of Petroleum Exporting Countries.