Nunavut Fuel Prices to Rise 15 Cents/Litre on Nov. 15 Amid Global Market Shifts

Nunavut Fuel Prices to Increase by 15 Cents Per Litre

Starting November 15, all fuel types in Nunavut will see a 15-cent-per-litre increase, marking the first adjustment since January 2024. The change follows global market fluctuations that have significantly impacted fuel costs.

Global Factors Drive Local Price Shifts

Transportation and Infrastructure Nunavut announced the adjustment on November 13, citing higher global fuel prices as the primary driver. "Nunavut’s base retail fuel prices have remained unchanged since January 2024," the department stated. "This adjustment reflects higher fuel purchase costs resulting from significant increases in global fuel prices during 2026."

The increase affects all communities in Nunavut, including Iqaluit, where fuel is distributed through both public and private channels. The Petroleum Products Stabilization Fund, which secures annual fuel contracts, has already acquired the more expensive supply.

Current Base Prices and Market Context

The new base prices will be: - Gasoline: $1.47 per litre - Heating and vehicle diesel: $1.58 per litre - Aviation diesel: $1.89 per litre - Jet fuel and aviation gas: $2.01 per litre

Minister of Transportation and Infrastructure George Hickes previously warned in March that the annual fuel supply would cost "tens of millions of dollars" more than anticipated due to Middle East conflicts. The stabilization fund’s annual resupply process, typically completed between July and October, has now been impacted by these global events.

Nunavut officials emphasized that despite the increase, prices remain competitive within the Canadian market. The adjustment applies uniformly across all Nunavut communities, ensuring consistent pricing for residents and businesses.