Halifax:
Nova Scotia implemented price controls for gasoline in 2006. Policy makers believed that regulation would prevent great price fluctuations.
While there are indeed fewer highs and lows than before, gas regulation carries three disadvantages. First, there is a cost in the regulatory process itself. Second, deviations from the market price always come at someone’s expense: the consumer if a controlled price is pushed up, the retailer if it is pushed down.
Third, regulation has made gasoline more expensive to purchase. In Halifax, the average retail cost for one litre of gas has been 1.7 cents higher since regulation was introduced.
For gasoline, price controls needlessly take money from your pocket.
Sydney:
Nova Scotia implemented price controls for gasoline in 2006. Policy makers believed that regulation would prevent great price fluctuations.
While there are indeed fewer highs and lows than before, gas regulation carries three disadvantages. First, there is a cost in the regulatory process itself. Second, deviations from the market price always come at someone’s expense: the consumer if a controlled price is pushed up, the retailer if it is pushed down.
Third, regulation has made gasoline more expensive to purchase. In Sydney, the average retail cost for one litre of gas has been over two-and-a-half cents higher since regulation was introduced.
For gasoline, price controls needlessly take money from your pocket.
Nova Scotia:
Nova Scotia implemented price controls for gasoline in 2006. Policy makers believed that regulation would prevent great price fluctuations.
While there are indeed fewer highs and lows than before, gas regulation carries three disadvantages. First, there is a cost in the regulatory process itself. Second, deviations from the market price always come at someone’s expense: the consumer if a controlled price is pushed up, the retailer if it is pushed down.
Third, regulation has made gasoline more expensive to purchase. In the province, the average retail cost for one litre of gas has been nearly two cents higher since regulation was introduced.
For gasoline, price controls needlessly take money from your pocket.