Nova Scotians are finally getting a bit of a break when it comes the price of fuel.
In its weekly adjustment, the Nova Scotia Energy Board lowered the minimum price of regular self-serve gasoline to 185.4 cents, which is a slight decrease of 1.7 cents.
Diesel prices saw an even greater decrease, going down by 6.1 cents to 237.6 cents per litre.
By comparison, a year ago, the price of gasoline was 135.9 and diesel was 141.9 cents per litre in Nova Scotia.
The provincial regulator adjusts fuel prices every Friday partly based on the global market price of oil, which has seen some relief due to the fragile Iran war ceasefire.
Asian stocks are mostly higher early Friday, tracking Wall Street gains, while oil prices have also risen ahead of Iran-U.S. ceasefire talks that are expected to take place in Pakistan.
The price of Brent crude, the international standard, was up 0.4 per cent to above $96 per barrel on Friday.
Ajay Rajadhyaksha of Barclays wrote in a recent research note that “$65-70 a barrel is not coming back,” referring to the pre-Iran war oil price levels. The bank predicts that Brent crude could remain at around $85 per barrel on average for this year.
With files from The Canadian Press