Gasoline at its cheapest in almost 2 years: survey
Last Updated: Tuesday, January 23, 2007 | 3:51 PM ET
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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.
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