New Brunswick gas prices plunge as interrupter clause activated amid market volatility

Gas prices have plunged in New Brunswick, dropping by approximately 10 cents overnight.

The New Brunswick Energy and Utilities Board (NBEUB) activated its interrupter clause on Tuesday evening, overriding its normal Thursday-to-Wednesday schedule.

The decrease is the result of the collapse of an oil supply cut agreement between Saudi Arabia and Russia, coupled with the uncertainty and less demand for oil amid the COVID-19 outbreak.

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New Brunswickers should expect to see a price of $1.033 per litre at self-serve locations.

That’s down from $1.136 per litre last week.

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Diesel also saw a drop in prices this week.

Consumers can expect to see a price of $1.109 per litre at the pumps, compared to the $1.192 per litre last week.

The NBEUB can adjust the prices if it chooses to follow its normal regulatory schedule, with those new prices coming into effect at 12:01 a.m. on Thursday.

— With files from Global News’ Graeme Benjamin