Request for Expressions of Interest for Gas Pricing System

To help make informed decisions about gas price regulations and other policies, government issued a request for expressions of interest, today, June 2.

Government is looking for vendors who can provide a petroleum price and volume tracking system. The tracking system will electronically track the amount, grade and price of all gasoline sold across the province.

The request for expressions of interest allows government to get a better idea of the technology available, and has the potential to introduce new and innovative ways to approach the project. It also provides government with an opportunity to evaluate the experience and expertise of potential vendors.

The tracking system will allow government to collect consistent data from retailers and wholesalers to help make informed decisions about gas price regulations and other policy decisions.

“We want to ensure that an evidence-based decision is made that reflects the best interest of Nova Scotians, and I am pleased that we will soon have the right information to make that decision,” said Service Nova Scotia Minister Mark Furey.

The tracking system will collect the following transaction information from every retail location in the province:
— fuel type (regular, mid-grade, premium and diesel)
— volume (litres)
— revenue
— pump price (cents per litre)
— service type (self service or full service)
— total value of discounts

“The migration of consumer gas consumption from rural to urban areas of the province and the overall decline in the number of retail gasoline outlets are just two of the many significant issues affecting the retail gasoline industry in Nova Scotia today,” said Graham Conrad, Executive Director of the Nova Scotia Retail Gasoline Dealers Association. “This is why a factual and objective method of measuring the impacts is so important. Petroleum price and volume tracking is an accurate way to effectively understand market conditions and better predict near term trends.”

Nova Scotia is the first area in North America to track petroleum sales this way.

To submit an expression of interest, or for more information, visit www.novascotia.ca/tenders .

The deadline to submit an expression of interest is 2 p.m., Tuesday, June 17.

Source: Release