Close X
Tuesday, November 26, 2024
ADVT 
National

Average pump price goes below $1 for first time since summer of 2010

Darpan News Desk The Canadian Press, 18 Dec, 2014 01:06 PM

    OTTAWA — The average cost of a litre of gasoline in Canada has dropped below $1 for the first time in nearly four and a half years, according to price monitoring website GasBuddy.com.

    While many locations across the country have seen prices below that mark for a couple of weeks, Thursday was the first time since Aug. 30, 2010, that the average dipped to 99.9 cents.

    In a statement, the website operator says Thursday also marked the 77th consecutive day that the national average has declined.

    GasBuddy says average prices are about 28 per cent below the peak of $1.39.3, reached on June 22.

    To put that in perspective for the average motorist using 80 litres of gasoline per week, the savings between the June peak price and Thursday's average works out to between $35 and $40 weekly.

    The milestone may be short-lived, however, as prices are expected to increase by up to two cents per litre in many parts of the country by Friday.

    GasBuddy senior petroleum analyst Dan McTeague says it's anyone's guess where prices will go next.

    Alberta typically enjoys the lowest fuel prices in the country. The province's average pump price currently sits at 88.1 cents.

    Edmonton residents, meantime, are experiencing the lowest average prices by metropolitan area, at 81.8 cents.

    Quebec motorists are still paying more than $1, with the average cost of a litre of regular in Montreal and Quebec City down to 109.5 and 108.4 cents respectively.

    The price difference from one part of the country to another largely comes down to the tax regimes adopted by governments, says McTeague.

    "A lot of it has to do with taxes," he said.

    "In fact if you look at the wholesale price of gasoline in Montreal and the wholesale price in Calgary or in Edmonton, you'll find they're about the same. The real, major difference there, unfortunately, is taxation."

    MORE National ARTICLES

    TransCanada CEO says industry has lived through worse than latest crude downturn

    TransCanada CEO says industry has lived through worse than latest crude downturn
    CALGARY — The CEO of TransCanada Corp. (TSX:TRP) says he doesn't see the oil industry's appetite for new pipelines faltering even though crude prices have skidded recently to the lowest in more than five-years.

    TransCanada CEO says industry has lived through worse than latest crude downturn

    B.C.'s old Riverview Hospital to offer substance-abuse, mental-health programs

    B.C.'s old Riverview Hospital to offer substance-abuse, mental-health programs
    What was once the home for Metro Vancouver's mentally ill will soon be the location of a rehabilitation and recovery program for those battling mental-health and substance-abuse issues.

    B.C.'s old Riverview Hospital to offer substance-abuse, mental-health programs

    B.C. First Nation still plans to open luxury hospital for tourists, Canadians

    B.C. First Nation still plans to open luxury hospital for tourists, Canadians
    Plans for a for-profit hospital on Westbank First Nation land in West Kelowna, B.C., are still alive despite years of apparent inactivity, says the band's leader.

    B.C. First Nation still plans to open luxury hospital for tourists, Canadians

    Alberta approach to climate change could be a model for North America: Harper

    Alberta approach to climate change could be a model for North America: Harper
    OTTAWA — Prime Minister Stephen Harper says the Alberta approach to pricing and controlling greenhouse gas emissions could serve as a model for all of North America.

    Alberta approach to climate change could be a model for North America: Harper

    Stateless Yukon Man, 60, Ponders Declaring Refugee Status In Canada

    Stateless Yukon Man, 60, Ponders Declaring Refugee Status In Canada
    VANCOUVER — Donovan McGlaughlin admits his story is hard to believe, but he wants Canadians to keep an open mind as he explains why he may have to apply as a political refugee in the country he's called home for his 60 years.

    Stateless Yukon Man, 60, Ponders Declaring Refugee Status In Canada

    Decision to build Site C dam 'incredibly stupid': First Nations leader

    Decision to build Site C dam 'incredibly stupid': First Nations leader
    VANCOUVER — A look at what was said about the B.C. government's decision to proceed with the controversial $8.8 billion Site C hydroelectric dam.

    Decision to build Site C dam 'incredibly stupid': First Nations leader