More gas, diesel prices on the rise in Nova Scotia, experts say
- On Monday, July 27, the Department of Energy will announce final price adjustments, with oil companies implementing weekly changes starting Tuesday, July 28. Diesel prices may climb by around ₱6 to ₱6.50 per liter, while gasoline could jump by ₱5.50 to ₱6.
- Elevated domestic fuel prices stem from ongoing supply disruptions in the Middle East, where military strikes and a reciprocal blockade of the Strait of Hormuz by the United States and Iran have hindered petroleum shipments to Asia.
- Demand is outpacing global gasoline inventories, according to industry sources, while the Bab el-Mandeb Strait, a vital route connecting the Red Sea and the Gulf of Aden, faces heightened security risks.
- Energy Secretary Sharon Garin stated that the DOE will not overextend its authority to control prices, noting that the Oil Industry Deregulation Law mandates market forces, rather than government price caps, determine retail pump prices.
- To manage future volatility, the agency is pursuing expanded oil stockpiling, including partnerships with Japan's Ministry of Economy, Trade, and Industry and the Association of Southeast Asian Nations to develop a strategic petroleum reserve.
29 Articles
29 Articles
Svenska Dagbladet
Diesel prices are rising. A liter of diesel now costs significantly more than it did before the government's temporary tax cut of three kronor, which came into effect on July 1.
More gas, diesel prices on the rise in Nova Scotia, experts say
Nova Scotians are paying more at the pumps as the geopolitical turmoil drives the price of crude oil to its highest level in more than a month. After a brief pause on major increases, gas is on the rise again across the province. The Nova Scotia Energy Board increased the cost by 5.7 cents, bringing […]
Due to recent developments in the Middle East, fuel prices in Austria have recently increased again. On Thursday, diesel costs 2.038 euros per litre per litre per petrol. The government is now negotiating an extension of the fuel price brake. On Wednesday, the price for diesel in Austria was still at an average of 2.008 euros and for petrol at 1.878 euros, according to data from the regulatory authority E-Control. On Thursday, the median price f…
Coverage Details
Bias Distribution
- 39% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
