Yellowknife, NWT – Gas prices in the city of Yellowknife have, at last, shown signs of life.
For the first time in years, prices appear to have made a significant downward shift.
Yellowknifers discovered the city’s Esso station selling gas at $1.349 per litre on Wednesday – a move soon matched by the Yellowknife Co-op.
Gas prices in the city have been static at $1.389 per litre for several years, barring occasional upward blips. Lately, prices had seemed to defy a downward trend across the rest of Canada.
However, speaking to Moose FM earlier this month, petroleum analyst Dan McTeague forecast this drop.
“I think you can expect to pay a little less at the pumps in the next several weeks – or even a month from now – when the inventory at gas stations in Yellowknife is replaced with fuel that is priced a lot lower than it was a few weeks ago,” said McTeague on November 6.
There is, of course, no guarantee that this change in price will last, nor that further reductions are on the way.
Councillor Adrian Bell has already pledged to raise the issue of gas prices at this coming Monday’s city council meeting.
“My hope is that city admin can find answers to the question of how our retailers are setting their prices,” Bell wrote in anticipation of that meeting.
“In most of small town Canada, the next small town usually isn’t so far away that consumers can’t drive there in protest and fill up their tanks. That’s not a possibility for us. We are truly a captive market.
“I’m hoping people will keep an eye on this situation, and, if and when we find a champion, we follow through and reward that champion with our business.”
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