Gas Prices Fall Nationally; Stay Same in FSJ

The national average price for gasoline last week fell another two and half cents, to a dollar five point four cents a liter.

That’s 27 and half cents below what it was three months ago, representing a drop of just over 20 percent.

Locally the common posted price in Fort St. John remains a dollar 19 point nine cents a litre and, that represents a three month drop of 17 and half percent.

However, the drop in gasoline prices is still less than half, the drop in oil prices.

Recall they peaked at about one hundred and 47 dollars a barrel in mid-July but, latest reports put them again below 69 dollars U.S, as stock markets and the Canadian dollar continue to tumble.

The latter is now down to 79.96 U.S. and below 80 cents for the first time since mid-2005.

On the upside however, that should be good news for the hard-pressed BC forst industry and, it should also be noted the cost of borrowing is getting cheaper, as chartered banks follow the Bank of Canada lead and, drop their prime lending rates to four percent.

In addition, there are now five cities on the sixty city MJ Ervin and Associates gasoline price survey…two in Alberta and three in Ontario…with prices below a dollar a liter.

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