Gas prices: Drone strike, OPEC+ amplify pre-summer spike at Canadian pumps

Several Canadian cities were hit with double-digit gas price increases, according to the data firm Kalibrate. (Bloomberg Creative via Getty Images)

Gas prices across Canada rose at the fastest pace of 2024 again this week, setting the stage for higher summer prices.

Several cities were hit with double-digit price increases for a litre of regular gasoline, including Bathurst, N.B. (10.9 cents), Lethbridge, Alta. (10.8 cents), and Peterborough, Ont. (10.2 cents). Only a handful of Maritime markets saw decreases. According to data firm Kalibrate, the nationwide average price hit $1.717 per litre on April 4.

Rising oil prices (CL=F) are amplifying the seasonal spike heading into summer. U.S. benchmark West Texas Intermediate hit its highest level since October this week. That's partly due to rising tensions in the Middle East, and drone attacks against Russian refineries. OPEC+ has also signalled that it will continue to squeeze crude output.

"All this just supports more exports of crude and refined products from the world’s largest producer and consumer of all petroleum-based products - the U.S.A," EnPro chief petroleum analyst Roger McKnight wrote in a blog on Thursday.

"When crude and refined products are exported to more lucrative markets in Europe and Asia then domestic prices must compete, which just drives up wholesale, rack, and pump prices in the U.S., and by osmosis here in Canada, too."

Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.

(All figures in CAD cents)

Location	Mar. 28	April 4	Price change
Canada Average (V)	165.8	171.7	5.9
WHITEHORSE	179.9	189.9	10
VANCOUVER*	204.1	211.1	7
VICTORIA	197.1	205.9	8.8
PRINCE GEORGE	164.9	169.6	4.7
KAMLOOPS	174.9	173.8	-1.1
KELOWNA	174.9	174.9	0
FORT ST. JOHN	168.7	171.9	3.2
ABBOTSFORD	188.2	191.7	3.5
YELLOWKNIFE	161.9	162.2	0.3
CALGARY*	154.9	162.6	7.7
RED DEER	150.7	159.3	8.6
EDMONTON	151.6	158.1	6.5
LETHBRIDGE	151.2	162	10.8
LLOYDMINSTER	151.9	157.1	5.2
GRANDE PRAIRIE	150.3	157.3	7
REGINA*	154.8	158.3	3.5
SASKATOON	154.7	157.9	3.2
PRINCE ALBERT	154.3	156.2	1.9
MOOSE JAW	154.9	158.7	3.8
WINNIPEG *	139	141.3	2.3
BRANDON	139.9	142.5	2.6
CITY OF TORONTO*	157.4	164.8	7.4
BRAMPTON	157.5	164.5	7
ETOBICOKE	157.2	163.7	6.5
MISSISSAUGA	156.3	163.3	7
NORTH YORK	157.4	164.6	7.2
SCARBOROUGH	157.2	164.8	7.6
VAUGHAN/MARKHAM	157.2	164.8	7.6
OTTAWA	156.4	164.4	8
KINGSTON	153.9	161	7.1
PETERBOROUGH	149.2	159.4	10.2
WINDSOR	155.8	163.6	7.8
LONDON	157	164.6	7.6
SUDBURY	165	168.6	3.6
SAULT STE MARIE	159.7	161	1.3
THUNDER BAY	161.9	165.7	3.8
NORTH BAY	163.6	169.2	5.6
TIMMINS	166.6	169.8	3.2
HAMILTON	155.9	163.3	7.4
ST. CATHARINES	154.9	160.4	5.5
BARRIE	156.8	163.8	7
BRANTFORD	155.1	162.9	7.8
GUELPH	157.4	164.2	6.8
KITCHENER	157.5	164.3	6.8
OSHAWA	157.4	164.7	7.3
SARNIA	149.6	159.5	9.9
MONTRÉAL*	169.7	173.6	3.9
QUÉBEC	167.7	168	0.3
SHERBROOKE	163.3	165.6	2.3
GASPÉ	170.7	172.7	2
CHICOUTIMI	154.9	153.1	-1.8
RIMOUSKI	172.4	171.4	-1
TROIS RIVIÈRES	161	164.7	3.7
DRUMMONDVILLE	165.9	167.3	1.4
VAL D'OR	169.5	169.6	0.1
GATINEAU	153	156.6	3.6
SAINT JOHN*	169.7	177.6	7.9
FREDERICTON	170.3	179.9	9.6
MONCTON	170.5	180.4	9.9
BATHURST	170.6	181.5	10.9
EDMUNDSTON	169.5	179	9.5
MIRAMICHI	171.6	181.5	9.9
CAMPBELLTON	171.6	177.9	6.3
SUSSEX	170.1	179.5	9.4
WOODSTOCK	171.5	181.1	9.6
HALIFAX*	170.4	170.1	-0.3
SYDNEY	172.3	172	-0.3
YARMOUTH	171.4	171.1	-0.3
TRURO	171.5	171.2	-0.3
KENTVILLE	170.9	170.7	-0.2
NEW GLASGOW	171.5	171.2	-0.3
CHARLOTTETOWN*	170.3	169.5	-0.8
ST JOHNS*	178.6	182.8	4.2
GANDER	181	185.3	4.3
LABRADOR CITY	185.2	189.4	4.2
CORNER BROOK	179.3	183.4	4.1
GRAND FALLS	181	185.2	4.2

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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