Gasoline Prices versus Oil Prices

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There is survey confirmation that on a sixty-city cross-country average, last week’s Hurricane-Ike-driven gasoline price increase, was just over seven and half cents a liter.

However, given the Gulf Coast refinery storm damage was much less than anticipated, pump prices in many Canadian cities are down again this week, from six to nine cents a liter.

Not so however, in Fort St. John.

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The price in this city rose eleven and a half cents last week, four cents a liter more than the jump in the national average, as recorded by Calgary based MJ Ervin and Associates.

The common posted local price did come down yesterday but, only by two cents a liter, leaving it at a dollar 51 point nine cents today.

That is still nearly ten cents a liter higher than it was last week, prior to the so-called storm induced increase.

It also as much as 20 cents a liter higher, than current prices in many other centres the country and, it is six and half cents higher than it was two months ago.

This despite the fact, the price of crude oil is down more than 55 U.S. dollars a barrel, from where it was in mid-July.

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