Oil prices are rising after the U-S government said today, American crude supplies fell unexpectedly last week.
Light sweet crude for September delivery is up a dollar and 84 U.S. cents, to nearly $115 a barrel, on the New York Mercantile Exchange. The advance is for the time being halting a month-long slide, which took crude prices nearly 35-dollars below a July 11th high of $147.27 a barrel.
Meantime, the new cross Canada survey of retail gasoline prices shows the national average has again dropped below a dollar and 30 cents a litre. Close to two-thirds of the sixty centres on the survey recorded a price drop but, once again for the sixth week in a row, Fort St. John filling stations ignored the drop in crude prices, and posted a common price of a $1.454.
That is higher than any price on the survy except the dollar 53 point three in Yellownife and, is now more than 20 cents higher than the five city survey average in Alberta of a dollar 24 point nine.
Through it all we have not heard of one single public objection from any of the area’s elected political leaders, at any level of government.