by Provincial regulators plan to use the interrupter clause to change gas prices overnight, and reports suggest that the adjustment will involve a significant increase. The Utility and Review Board announced today that it would invoke the clause, which occurs when market prices differ by six to eight cents a litre above or below the weekly price change. The impending change will come after today’s surge in crude oil futures and a rebound in oil prices over the past few days. In London, Brent crude for March delivery went up by three and a half percent earlier today, while in New York, light, sweet crude for March delivery went up by 3%. Oil prices have gone up about 10% over the last two sessions—something that’s being attributed to expectations that supply will go down with a major decrease in drilling activity in the US. However, Citigroup futures analyst Tim Evans tells Market Watch that the latest rebound might not be enough to offset a projected 1.5 million barrel per day surplus in the first half of this year.
Dave Desveaux
Dave Desveaux, a native of New Waterford leverages his experience and passion for research in The Coast 89.7 Newsroom where as the Weekday Newscaster. His foray into radio began with a research position at The Coast, which led to the production of a radio documentary on the music of the Mi’kmaq people. The program, entitled “First Nations, First Music” was co-produced with fellow Coast personality Ron Neville and released in early 2011. A graduate of Breton Education Centre, Dave went on to get a Bachelor of Arts Degree in History and Sociology from Cape Breton University, as well as a Master of Arts Degree in Sociology from Dalhousie University. He has worked as a teaching assistant at Dalhousie, and in various short-term customer service and research positions.
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