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Gas prices expected to stay steady over holiday week

Gas prices in the Northwest Territories are expected to remain relatively steady over the week between Christmas and New Year's Day, say gas price monitors.

Nov 2/17
John McFadden/NNSL photo
Esso at Mac's Convenience Store had the cheapest gas in the city yesterday at $116.4/litre.

“A shortened Christmas holiday week in energy trades will keep pump prices relatively stable across much of Canada, except the Maritimes, where prices there can be expected to rise three cents a litre,” Dan McTeague, senior petroleum analyst at GasBuddy, stated Wednesday.

According to GasBuddy's daily survey of 17 gas stations across the territory, the average retail price for gas remained unchanged over the past week, averaging 121.52 cents per litre.

Nationally, average gas prices rose 1.4 cents over the last week to 116.53 cents per litre.

In NWT, the price per litre of gas on Boxing Day was 0.6 cents higher than the same day last year.

In Canada as a whole, the price of a litre of gas was 8.5 cents higher this year than on Boxing Day last year.

Over the last five years, gas prices in late December in NWT have gone up and down.

The price of gas was 113.9 cents per litre on Dec. 27, 2015, but two years prior, on Dec. 27, 2013, it was 155.95 cents a litre.

“The arrival of colder weather in the Great Lakes and Northeastern region will provide support for fuel prices as we head into a new year, but for the time being, if anything gas prices should moderate, especially in western Canada where refinery disturbances in the Chicago region caused a net 12-cent-a-litre increase in the week leading up to Christmas,” stated McTeague.