Interrupter and Price Changes
Scheduled price changes occur every second Thursday starting 13 July 2006. The interrupter is based on a formula that will determine whether the market prices of fuels have changed enough to warrant a price change . This “interrupter” formula will run every second Wednesday beginning 19 July 2006. For the interrupter formula to trigger a price change, a 5 day average NYMEX spot price from the last price change to the current date, will be calculated. If this new average NYMEX spot price changes by ±4 cents per litre over the last NYMEX spot price average, used to set the scheduled price change, the pump price may be adjusted using the new average NYMEX spot price as the baseline. If the interrupter is not triggered on the interruption date, the current pump price will continue until the next price change the following Thursday. In extreme circumstances, precipitated by a weather or perhaps a geopolitical event, a catastrophic interrupter could initiated whereby international product prices change by significant amounts, say ±15 cents per litre. This interrupter would be initiated on the day of the price change or the next day when rack prices in Nova Scotia would change.
Read more about this topic: Petroleum Pricing In Nova Scotia
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