Gas about to get cheaper in Nunavut
Federal government suspends fuel excise tax; GN announces subsequent shift in fuel prices
Shannon Chartre pumps gas in Iqaluit in March. The federal government announced Tuesday it will suspend its fuel excise tax as of Monday. This will bring down the cost of gasoline by 10 cents per litre. (Photo by Daron Letts)
People in Nunavut will get a break at the gas pumps starting Monday.
Gasoline will decrease by 10 cents a litre, while diesel fuel and unleaded aviation fuels will be reduced by four cents a litre, the territorial government said Thursday in a public service announcement.
The move is in response to Prime Minister Mark Carney’s announcement Tuesday that the federal government is suspending its excise tax on gasoline, diesel and aviation fuel from April 20 until the end of the day on Labour Day Sept. 7.
The global price of oil has skyrocketed since late February, when Iran blocked the Strait of Hormuz, a key shipping route for oil out of the Middle East. The blockade is in retaliation for the United States and Israel’s war on Iran.
Nunavut has largely been shielded from these spikes in price because the territorial government purchases much of its yearly supply of fuel ahead of time.
A cost breakdown of the fuels affected can be found on the GN website.
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