New Year’s treat: Nunavut government to reduce gasoline, diesel prices
Prices will go down by 10 cents a litre as of Jan. 1
Nunavummiut can look forward to cheaper fuel in 2016.
The territorial government announced last week that in the New Year the petroleum product prices will drop in Nunavut.
The cost for both diesel and gasoline will decline by 10 cents a litre starting Jan. 1, the Government of Nunavut said in a Dec. 21 release.
The GN’s petroleum products division buys the territory’s entire fuel supply every summer and fall, then sets the price for each fuel category and sells it directly, or through contracted agents.
The decrease in price for 2016 is due to a drop in global market prices, the GN said.
In Iqaluit, drivers have been paying $1.399 per litre at full service gas bars and $1.379 per litre at the self-service Quickstop gas bar. These will drop by 10 cents as of Jan. 1.
Fuel prices were last bumped in Nunavut at the start of 2014, when global markets drove a diesel increase of 10 cents a litre and a jet fuel bump of 2.5 cents a litre.