May 4, 2006

Nova Scotians to pay more for gasoline, Petroleum Institute says

Ottawa, Ontario – The Canadian Petroleum Products Institute (CPPI) says that the decision by Nova Scotia to regulate the retail price of gasoline will ultimately cost consumers more to drive their cars.

Alain Perez, President of CPPI, acknowledges that while the province has the right to regulate gasoline prices, he is surprised that Premier Rodney MacDonald has done so. “The Nova Scotia government commissioned a study by Gardner Pinfold and MJ Ervin that clearly shows gasoline regulation will add more costs for Nova Scotian drivers and tourists,” Perez says. “The pattern identified in the study shows that Nova Scotians will pay an additional $20 million to $30 million annually. This is consistent with the history of regulated markets in PEI and Newfoundland and Labrador. Nova Scotians, in today’s unregulated market, pay far less than consumers in Atlantic regulated markets.”

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