News Release

FREDERICTON (GNB) – The government is delivering on its commitment to remove the cost of carbon adjuster, which is expected to provide direct and visible price relief at the gas pumps.

“At a time when so many are facing rising costs, this measure demonstrates our focus on affordability and our commitment to putting people first,” said Premier Susan Holt. “It was important for us to keep our promise to New Brunswickers and fulfil a clear commitment to make life more affordable.”

Under a proclamation that takes effect Dec. 1, Bill 4 – An Act Respecting Petroleum Products Pricing – enables the government to remove the adjuster from New Brunswick’s regulated fuel price formula. This is expected to reduce the price of gasoline by about seven to nine cents per litre.

“We have heard that there are concerns from the fuel sector,” said Energy Minister René Legacy. “I want to stress that the Energy and Utilities Board has the tools and ability to consider legitimate cost pressures and make fair, evidence-based adjustments through its established, transparent process.”

The adjuster was introduced in 2022 to reflect costs related to federal clean fuel regulations. Holt said the decision to proclaim Bill 4 and remove the adjuster was made as part of a responsible and measured approach, acting only after thorough review and consultation to ensure the stability of fuel supply and fairness for consumers.

“The Energy and Utilities Board’s recent margin adjustments have created the right conditions for removing the adjuster, which will help ensure a smooth transition for retailers and continued stability for consumers,” said Natural Resources Minister John Herron. “We are confident the board has the tools in place to protect consumers while also meeting the needs of wholesalers, retailers and industry.”

The adjustment, reducing the maximum price of gasoline and diesel across the province, is expected to result in annual savings of $150 to $200 for a typical household that fills up once a week.