Gas Prices Slide

Monday, April 17, 2006 04:01 AM

After hitting 110.9 cents a litre on Friday, the price of fuel dropped by 3 cents a litre (14 cents a gallon) by Saturday afternoon. What prompted the local gas companies to drop the price in PG is not known and no one would comment on the matter.

The wholesale price in PG on Friday was 76.3, Victoria whose wholesale price was 71.7, 4.6 cents a litre cheaper than PG was selling at 110.9 according to MJ Ervin and Associates.

While the wholesale price of gas in Yellowknife was 78.9 cents, the fuel was selling for 106.6 cents.

In Eastern Canada, the price for regular grade fuel was selling in most cities for more than 1.11 in most cities, south of the border in the USA prices have been hitting about 3.00 dollars US a gallon (3.85 a gallon Canadian) The price south of the border is expected to reach 4.00 in some jurisdictions within the coming weeks.

In PG at 107.9 the price per gallon of gas sits at $4.91 a gallon.

The Canadian average for regular gas is $1.04 per litre.
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Posted on Monday, April 17, 2006 04:01 AM in News by 250 News

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Comments

Posted by: Gofaster on April 17 2006 7:14 AM

I beleive that this is flagrant gouging of the city people. We have no choice but to buy gas so stick it to where the market will have no choice but to tolerate it. I wonder if Mr Bell cares? I somehow doubt it.....expense account must cover it...

Posted by: diplomat on April 17 2006 11:31 AM

I know that a few years from now the price of fuel that we are paying now is going to look like a real bargain. If the Iran gets nuked it will probably double overnight.

What ticks me off more than anything else is the co-operation between all the dealers to have the price fixed at the same amount all over.

It appears to be legal, but the free market is being touted as the system to support as it is supposed to stimulate competition!

Where is the competition?

At the SuperStore one gets a coupon worth 5 cents per litre, so that is where I fill up.

Posted by: acrider54 on April 18 2006 6:06 AM

They just dropped the price to raise it again probably 12 cents per liter. This summer we will be paying over 1.50 per liter. Might as well stay home and watch TV. So much for the wide open spaces.

Posted by: Gofaster on April 18 2006 7:41 AM

I hear the price of TV reruns is going up too. Costing more to generate electricity.....

Posted by: bigbear on April 18 2006 12:03 PM

"Gas prices slide"

What a statement, to me it is not considered a slide when it went to 1.10 for one day, then back to 1.07 And not all the stations went up. Do the gas companies think we are sniffing the gas instead of putting it in our tanks? They must think we have short term memory loss not to notice gas went up the day before. Or maybe they think we will be blinded by the 3 cent saving.