Nunavut government cuts diesel, gasoline prices
New pricing kicked in Jan. 12
The price that Nunavut residents pay at the pump for gasoline dropped on Sunday, Jan. 12.
The new price system, announced last week by the territory’s Department of Community and Government Services, will see diesel and gasoline prices drop by four cents per litre, before all applicable taxes, including the carbon tax.
And in Iqaluit, prices will drop by an additional five cents per litre for a total cost reduction of nine cents per litre.
The reduction on diesel is for motor vehicles only, and does not apply to any other diesel fuel, said a spokesperson for the Department of Community and Government Services.
“The additional price reductions in Iqaluit are intended to reduce the gap between what consumers pay in Iqaluit compared to other communities, where prices are lower,” the department said in a news release.
“Thanks to the diligence of our Petroleum Products Division in implementing their early purchase policies, we are able to provide these substantial cost reductions to Nunavummiut,” Lorne Kusugak, Nunavut’s community and government services minister, said in the release.
The reductions in fuel prices reflects an overall decline in market prices for crude oil in 2019, the release said.
“PPD was able to capitalize on advantageous crude prices in international markets and secure its 2019 diesel and gasoline requirements at costs 11 to 15 per cent lower than in 2018,” the release said.