Yahoo Finance Gas prices see 'largest single-day jump since early 2022': En-Pro International
Gas prices across Canada climbed an average of 9.4 cents per litre of regular fuel over the past seven days, the biggest weekly gain so far in 2024. Cities in Ontario and Quebec booked eye-watering 20 cent-plus gains, while prices were virtually flat for drivers in the Western and Maritime regions.
The average cost per litre of regular gasoline in cities nationwide rose to $1.806 from $1.712 between April 11 and April 18, according to data firm Kalibrate. Chicoutimi, Que. saw the biggest increase at 26.7 cents per litre, followed by Gatineau, Que., and North Bay, Ont. The Greater Toronto Area was hit with widespread gains above 15 cents per litre.
On Thursday afternoon, En-Pro International posted on X that "gas prices spiked 14 cents overnight, the largest single-day jump since early 2022."
"The steady build in U.S. crude inventories, combined with the reluctance of the Fed to lower interest rates, which would increase gasoline demand, should neutralize the impact of the conflict in the Middle East," En-Pro chief petroleum analyst Roger McKnight wrote in a blog post.
"The refining industry will come back to normal levels by mid-June, so supply will balance demand, and prices should fall soon after the U.S. Memorial Day launch of summer."
Rising gas prices was the top factor behind Statistics Canada's slightly higher annual inflation reading for March. Year over year, the agency found gasoline prices increased 4.5 per cent last month, following a 0.8 per cent rise in February.
"Higher global prices for crude oil stemmed from supply concerns amid geopolitical conflict and continued voluntary production cuts, leading to higher prices at the pump," StatCan said on Tuesday.
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
LOCATION | April 11 | April 18 | Price change |
Canada Average (V) | 171.2 | 180.6 | 9.4 |
WHITEHORSE | 189.9 | 189.9 | 0 |
VANCOUVER* | 210.7 | 212.7 | 2 |
VICTORIA | 206.2 | 206.9 | 0.7 |
PRINCE GEORGE | 169.6 | 169.3 | -0.3 |
KAMLOOPS | 172.5 | 181 | 8.5 |
KELOWNA | 174.6 | 175.8 | 1.2 |
FORT ST. JOHN | 171.2 | 174.9 | 3.7 |
ABBOTSFORD | 194.2 | 198.5 | 4.3 |
YELLOWKNIFE | 161.9 | 161.9 | 0 |
CALGARY* | 161.2 | 158.8 | -2.4 |
RED DEER | 159 | 159 | 0 |
EDMONTON | 154.9 | 153.6 | -1.3 |
LETHBRIDGE | 161.9 | 161.9 | 0 |
LLOYDMINSTER | 154.6 | 154.6 | 0 |
GRANDE PRAIRIE | 156.9 | 158.7 | 1.8 |
REGINA* | 158 | 157.3 | -0.7 |
SASKATOON | 157.4 | 156.9 | -0.5 |
PRINCE ALBERT | 154.6 | 155.8 | 1.2 |
MOOSE JAW | 158.7 | 158.7 | 0 |
WINNIPEG * | 141.4 | 141.6 | 0.2 |
BRANDON | 142.5 | 143.3 | 0.8 |
CITY OF TORONTO* | 163.7 | 179.3 | 15.6 |
BRAMPTON | 164.3 | 179.6 | 15.3 |
ETOBICOKE | 163.4 | 179 | 15.6 |
MISSISSAUGA | 162.8 | 179.3 | 16.5 |
NORTH YORK | 163.9 | 179.6 | 15.7 |
SCARBOROUGH | 163.3 | 179.5 | 16.2 |
VAUGHAN/MARKHAM | 163.5 | 179.2 | 15.7 |
OTTAWA | 162.4 | 179 | 16.6 |
KINGSTON | 162.3 | 179.3 | 17 |
PETERBOROUGH | 160.1 | 172.2 | 12.1 |
WINDSOR | 162.4 | 177.8 | 15.4 |
LONDON | 163.5 | 177.4 | 13.9 |
SUDBURY | 167.4 | 185.8 | 18.4 |
SAULT STE MARIE | 160.2 | 174.3 | 14.1 |
THUNDER BAY | 165.8 | 175.5 | 9.7 |
NORTH BAY | 161.5 | 182.6 | 21.1 |
TIMMINS | 169.7 | 183.6 | 13.9 |
HAMILTON | 161.6 | 178 | 16.4 |
ST. CATHARINES | 160.4 | 177.1 | 16.7 |
BARRIE | 162.8 | 178.2 | 15.4 |
BRANTFORD | 161.1 | 176.2 | 15.1 |
GUELPH | 163.4 | 178.4 | 15 |
KITCHENER | 163.1 | 179 | 15.9 |
OSHAWA | 163.8 | 179.4 | 15.6 |
SARNIA | 161.7 | 178.9 | 17.2 |
MONTRÉAL* | 173.7 | 190.5 | 16.8 |
QUÉBEC | 172.1 | 187.4 | 15.3 |
SHERBROOKE | 169.5 | 185.3 | 15.8 |
GASPÉ | 172.7 | 189.4 | 16.7 |
CHICOUTIMI | 155.1 | 181.8 | 26.7 |
RIMOUSKI | 169.4 | 189.4 | 20 |
TROIS RIVIÈRES | 169.8 | 186.7 | 16.9 |
DRUMMONDVILLE | 166.7 | 183.9 | 17.2 |
VAL D'OR | 169.6 | 182.7 | 13.1 |
GATINEAU | 152.7 | 175.9 | 23.2 |
SAINT JOHN* | 175.1 | 179.1 | 4 |
FREDERICTON | 176.6 | 181.7 | 5.1 |
MONCTON | 176.8 | 181.9 | 5.1 |
BATHURST | 176.8 | 182.3 | 5.5 |
EDMUNDSTON | 175.2 | 175.8 | 0.6 |
MIRAMICHI | 177.9 | 183.1 | 5.2 |
CAMPBELLTON | 175.7 | 179.9 | 4.2 |
SUSSEX | 176.2 | 181 | 4.8 |
WOODSTOCK | 177.8 | 183.1 | 5.3 |
HALIFAX* | 172.1 | 175.4 | 3.3 |
SYDNEY | 174.1 | 177.2 | 3.1 |
YARMOUTH | 173.2 | 176.3 | 3.1 |
TRURO | 173.3 | 176.4 | 3.1 |
KENTVILLE | 172.7 | 175.8 | 3.1 |
NEW GLASGOW | 173.3 | 176.4 | 3.1 |
CHARLOTTETOWN* | 173 | 173 | 0 |
ST JOHNS* | 190.4 | 193.9 | 3.5 |
GANDER | 192.9 | 196.4 | 3.5 |
LABRADOR CITY | 197 | 200.5 | 3.5 |
CORNER BROOK | 191.1 | 194.6 | 3.5 |
GRAND FALLS | 192.9 | 196.4 | 3.5 |
SOURCE: KALIBRATE • All figures in CAD cents
(*) Denotes markets used in Volume Weighted Canada Average
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.
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