Go back
Features


CDs

NNSL Logo .
 Email this articleE-mail this story  Discuss this articleOrder a classified ad Print window Print this page

Gas falls on worldwide whims

David Ryan
Northern News Services
Wednesday, February 14, 2007

YELLOWKNIFE - John Goulet was eager to put extra fuel into his vehicle last Friday at the Husky on Forrest Drive.

"I'm putting $60 worth in today," he said.

"The price of fuel has been a lot better now than the last few months," said Goulet who normally puts $20 worth of gas in his vehicle for a fill-up.

NNSL Photo/graphic

Chandi Digness, left, sits in her truck as Monkey Tree Gas Bar manager William Cheng fills her tank. Prices for gas have been good in January and early February according to some Yellowknife stations, but with the price of crude oil on its way up, gas prices will likely be affected before too long. - David Ryan/NNSL photo


At The Pump:

Average price of self-serve regular gas

Yellowknife $102.5; Vancouver 1.002; Edmonton 0.833; Toronto 0.838; Montreal 0.896; Halifax 0.953

Average price on July 4, 2006

Yellowknife 1.149; Whitehorse 1.169; Vancouver 1.135; Edmonton 1.043; Toronto 1.058; Montreal 1.103; Halifax 1.145

Average price on Feb. 7, 2006

Yellowknife 1.029; Whitehorse 0.999; Vancouver 0.954; Edmonton 0.890; Toronto 0.887; Montreal 0.933; Halifax 0.997

Goulet was one Yellowknife resident who was taking full advantage of gas prices dropping below a dollar per litre at many service stations across the city.

But with rising crude oil prices on the world market, most retailers say not to expect low prices to stick around for long.

The average price at the pump for low-octane unleaded gasoline in the city on Feb. 13 was $1.025 compared to $0.965 on Feb. 6 and $1.029 at the same time last year, according to the Fuel Focus Natural Resources Canada website.

Prices over the last few months have been reasonable, said William Cheng, manager at the Monkey Tree Gas Bar on Range Lake Road.

"World-wide markets drive the prices," he said.

"With the price of crude oil going up, the price of gas can go up." The price of Brent crude oil had risen to $59.01 on Feb. 9 compared to $57.23 on Feb. 1.

Over the past number of winters, gas prices have been reasonable for January and February, but Cheng has seen the price rise in summer months when there is more activity on the roads.

"The demand is up in the summertime," he said.

There are traditionally three main factors that determine gas prices, said Jana Sanderson, spokesperson with Shell Canada.

The price of crude oil, the cost of refining that oil into gasoline products and local competition all factor in to the price someone pays at the pump, she said.

Winter historically means fewer people driving therefore there is less demand, she said.

While there are historic trends, "We can't predict gas prices as the price is always fluctuating," she said.

At Mac's Convenience and Husky gas, owner Abullah Al Mahamud said the fluctuations always lead to the same place eventually.

"With the price, it's always a one way road," he said.

For Yellowknifer Jane Curren, prices don't normally have an affect on when or where she purchases her fuel.

"I don't really notice the price. I'm going to buy it anyway," she said.