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The price of gasoline and diesel fuel are based on the price on the New York Mercantile Exchange as a benchmark in Canadian funds. This plus a 6 cent per litre wholesale margin, plus a transportation allowance of 0.5 to 2 cents per litre, and a retail margin of 4 to 5.5 cents per litre (or to a maximum of 7.5 cents per litre for full-serve gasoline).
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
Halifax Harbour was also the staging site for much of the development of the Sable Offshore Energy natural gas project during the late 1990s, as well as somewhat smaller crude oil development projects during the 1970s-1990s. Unemployment is relatively low (5.9% in July 2010) and is well below both the provincial and national averages. [4]
The company receives gas from the Maritimes and Northeast Pipeline system and is regulated under the Utility and Review Board of Nova Scotia. It currently operates systems in Halifax Regional Municipality, Guysborough County, Cumberland County. Colchester County, Hants County and Pictou County. Heritage Gas is a subsidiary of TriSummit ...
Tight refining supply has kept the gap wide between wholesale gasoline futures and retail prices, currently at about $1.25 a gallon, far exceeding the average of 88 cents over the past five years.
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At the time, the cost of developing the gas field proved prohibitive. Extreme North Atlantic Ocean weather and low natural gas prices were blamed. In 1995, improvements in drilling technology along with an increase in natural gas prices made recovering the gas economy allowing SOEP to emerge. In January ground was broken for the Goldboro gas plant.
Some larger stores (60,000 to over 80,000 square feet) also have a community room, drive-through pharmacy, Mobil gas bar, liquor store (operated by the applicable provincial agency), tobacco shop, and walk-in medical clinics.