Sarah Holland
Northern News Services

Yellowknife (Oct 10/01) - Once again, gasoline prices are a hot topic.

With the price of crude oil falling since the terrorist attacks, drivers have seen lowered prices at the pumps.

Frankie Beaulieau, from Rae, fills up at Yellowknife's Shell station. As of Monday, gas prices had edged down to 89.9 cents per litre. - Thorunn Howatt/NNSL photo

Calgary-based MJ Ervin & Associates Inc. publishes a pump price survey. Of 44 Canadian cities surveyed, Yellowknife had the highest price for regular gas at 90.0 cents per litre. Edmonton was the lowest at 60.7 cents. The latest available numbers are dated Oct. 2.

As of press time Tuesday, price for regular gas at most Yellowknife pumps was 89.9.

According to the Petroleum Communication Foundation, the price of gasoline reflects a number of costs. Taxes account for 40 to 50 per cent of the total price per litre. The NWT provincial consumption tax is 10.7 cents per litre, the federal excise tax is 10 cents per litre, and GST is also added.

The cost of crude oil is 35 to 45 per cent of the cost. As of press time crude oil was down from recent highs, sitting at $22.56 US per barrel.

Refining totals 10 to 15 per cent and retailing five to 10 per cent of the price.

The cost of gasoline varies day to day because of competition. The price varies region to region because of provincial tax rates and transportation costs. Also, larger cities sell larger volumes and are therefore able to keep prices down.