Question: 16
Why are fuel prices different in each of the Atlantic provinces if all these provinces have fuel price regulation?
While fuel price regulation is in place in all Atlantic provinces there are differences which can result in different maximum prices at any point in time. These differences include different legislative requirements and formulaic methodologies (i.e. number of averaging days, margins, product blending, adjustment schedule), taxation as well as use of discretionary authority. An overview of the different regulatory systems in the Atlantic provinces is shown below:
| Province |
Price Adjustment Schedule |
Market Data Source |
Taxes on Gasoline |
| Newfoundland and Labrador |
Every Thursday
(seven-day average) |
Platts US Marketscan
- for all fuels except propane
Oil Price Information Services for Propane |
FET1 - 10.0 cpl*
PFT2 - 7.5 cpl
CT3 - 17.61 cpl
HST4 - 15% |
| New Brunswick |
Every Friday
(five-day average) |
Argus Media
- for all fuels except propane
Oil Price Information Services for Propane |
FET - 10.0 cpl
PFT - 10.87 cpl
CT - 17.61 cpl
HST - 15% |
| Nova Scotia |
Every Friday (five market business days; less whenever there is a holiday) |
Argus Media
- for gasoline and diesel. Does not regulate heating fuel. |
FET - 10.0 cpl*
PFT - 15.5 cpl
CT - 17.61 cpl
HST - 15% |
| Prince Edward Island |
Every Friday |
|
FET - 10.0 cpl*
PFT - 8.47 cpl
CT - 17.61 cpl
HST - 15% |
* cpl = cents per litre
1 FET = Federal Excise Tax
2 PFT = Provincial Fuel Tax
3 CT = Carbon Tax
4 HST = Harmonized Sales Tax
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