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Gasoline at its cheapest in almost 2 years: survey

Last Updated: Tuesday, January 23, 2007 | 3:51 PM ET

CBC News

Average gasoline prices in Canada have fallen to their lowest levels in almost two years, according to a weekly survey of pump prices.

An average litre of regular gasoline in 10 Canadian cities cost 83.7 cents in the latest survey by Calgary-based MJ Ervin & Associates. That's down 3.4 cents from last week's survey.

The last time gasoline prices were this low was March 1, 2005, when a litre cost an average of 82.5 cents, company figures show.

The latest survey says the cheapest gas is available in southern Ontario and Alberta.

A litre of regular gas cost 73.6 cents in Windsor, 76.1 cents in Hamilton and London and 77.8 cents in Toronto.

A typical litre of regular gas in Edmonton cost 76.4 cents, while Calgary's 76.6-cent average wasn't far behind.

The most expensive fuel was in British Columbia, Newfoundland and Labrador, and in the North.

A litre cost 99.1 cents in Victoria, 94 cents in Vancouver, 96.9 cents in Yellowknife, and more than $1.01 in Whitehorse.

Among the 45 cities surveyed by MJ Ervin, Labrador City's $1.03 topped the list. Gas in St. John's averaged 94.8 cents, while Gander's gas averaged 97.3 cents.

Gas prices have been tumbling because crude oil has been hitting 20-month lows recently as inventories remain high.

This story is now closed to commenting.

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Peoples Trust	0.50%	$5,000
General Bank of Canada	0.50%	$25,000

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Home Trust Company	1.25%	$2,500
ResMor Trust	1.10%	$5,000
Ally	1.10%	$1	Guaranteed earnings. No minimums, fees or service charges.
Equitable Trust	0.85%	$5,000
SunLife Financial Trust	0.80%	$1,000
Pacific & Western Bank	0.75%	$5,000
Manulife Bank	0.50%	$25,000
Peoples Trust	0.50%	$5,000
General Bank of Canada	0.50%	$25,000
ING Direct	0.50%	$1

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	1.75%	$1	No-Penalty option, no fees, daily compounded interest.
Home Trust Company	1.55%	$1,000
Pacific & Western Bank	1.55%	$1,000
ResMor Trust	1.46%	$1,000
SunLife Financial Trust	1.45%	$1,000
Community Trust	1.35%	$1,000
Korea Exchange Bank	1.30%	$3,500
State Bank of India (C)	1.30%	$2,000
ING Direct	1.25%	$1
Alterna Bank	1.20%	$500

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Ally	2.30%	$1	Guaranteed earnings. No minimums, fees or service charges.
ING Direct	2.25%	$1
Pacific & Western Bank	2.15%	$1,000
Home Trust Company	2.15%	$1,000
ResMor Trust	2.11%	$1,000
SunLife Financial Trust	2.05%	$1,000
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Home Trust Company	2.65%	$1,000
SunLife Financial Trust	2.65%	$1,000
ResMor Trust	2.60%	$1,000
HomEquity Bank	2.55%	$5,000
Manulife Bank	2.50%	$2,500
ING Direct	2.50%	$1
President's Choice Fin'l	2.50%	$500
State Bank of India (C)	2.50%	$2,000

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Ally	3.60%	$1	Guaranteed earnings. No minimums, fees or service charges.
SunLife Financial Trust	3.45%	$1,000
Home Trust Company	3.35%	$1,000
Pacific & Western Bank	3.30%	$1,000
B2B Trust	3.30%	$500
President's Choice Fin'l	3.25%	$500
ING Direct	3.25%	$1
HomEquity Bank	3.25%	$5,000
Manulife Bank	3.25%	$2,500
Canadian Western Bank	3.20%	$500

Banks & Trusts	Interest Rate	Minimum Deposit	Features
Peoples Trust	2.10%	$0
Ally	2.00%	$0	No minimums, no fees, daily compounded interest.
State Bank of India (C)	1.25%	$1,000
Canadian Tire Bank	1.20%	$0
ICICI Bank Canada	1.20%	$0
ING Direct	1.05%	$0
Amex Bank of Canada	1.00%	$0
Manulife Bank	1.00%	$0
Alterna Bank	0.85%	$0
Royal Bank of Canada	0.75%	$0

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State Bank of India (C)	1.75%	$0
Bank of Nova Scotia	1.50%	$0
Canadian Tire Bank	1.50%	$0
ICICI Bank Canada	1.40%	$0
ING Direct	1.05%	$0
President's Choice Fin'l	1.00%	$0
Manulife Bank	1.00%	$0
BMO Bank of Montreal	1.00%	$0
HSBC Bank Canada	0.80%	$0

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Gasoline at its cheapest in almost 2 years: survey

Last Updated: Tuesday, January 23, 2007 | 3:51 PM ET

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