Pump prices drop; average still tops $1.05 a litre
Report expected to note rise in oil refinery inventories
Last Updated: Tuesday, June 26, 2007 | 4:19 PM ET
CBC News
The average price of a litre of regular gas in Canada fell to $1.059, according to a national survey released Tuesday.
The new national average, recorded in the survey taken by MJ Ervin & Associates, a Calgary-based consulting firm, represents a decrease of 1.2 cents over the week before.
The new national average price of a litre of regular gas in Canada fell to $1.059, according to a survey by MJ Ervin & Associates.
(CBC)
Light, sweet crude for August delivery on Tuesday fell to $67.77 US. Oil and gas futures fell in anticipation of a report to be released Wednesday by the U.S. Energy Department's Energy Information Administration. The report is expected to note an uptick in refinery inventories.
Stations in Yellowknife charged the highest prices, at $1.288 a litre, according to the survey. Labrador City motorists paid $1.245 and Whitehorse drivers paid $1.212.
Meanwhile, Alberta stations charged the lowest prices, with Edmonton drivers paying $0.999 and Calgary drivers $1.033.
Leading into the summer driving season, drivers across North America have grumbled as gas prices have continued to climb. Oil companies have said labour unrest, refinery maintenance and strong demand have forced up prices.
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The new national average price of a litre of regular gas in Canada fell to $1.059, according to a survey by MJ Ervin & Associates.