Yahoo Finance Gas prices: ‘Glacial, daily decline’ for the rest of 2023, but B.C. city sees significant drop
Gas prices eased across most Canadian cities this week as analysts called for a long, slow decline through the end of 2023.
The average retail price of regular gasoline in Abbotsford, B.C. saw the biggest drop nationwide between Oct. 26 and Nov. 2, falling 10.2 cents per litre to $1.593. Gaspe, Que. and Gatineau, Que. saw comparable declines, losing nine and 7.4 cents per litre, respectively.
Sarnia, Ont., last week’s biggest decliner, gave up most of its discount, booking a a nine cent rise to $1.524 per litre.
According to pump prices from more than 70 cities compiled by data firm Kalibrate, the average retail cost of regular gasoline fell 1.1 cents per litre to $1.563, following a virtually flat reading last week.
The price action fits with a recent call by AAA analyst Andrew Gross. Speaking to Yahoo Finance, he forecasts a “steady, if glacial, daily decline until the end of the year.”
Lower gas prices will be welcomed by the growing number of Canadians purchasing new vehicles. According to DesRosiers Automotive Consultants, October marked 12 consecutive months of sales gains for light vehicles. While the monthly total of 145,957 units is up from last year, it remains well off the nearly 160,000 units in October 2019, the last year before the COVID-19 pandemic
“The market has been on a tear the last three months with gains close to 20 per cent each month,” DesRosiers’ managing partner Andrew King stated in research published Thursday. “Clearly pent-up demand and improved vehicle availability are overcoming the headwinds caused by high interest rates and stagnant GDP performance.”
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
LOCATION | Oct. 26 | Nov. 2 | Price change |
Canada Average (V) | 157.4 | 156.3 | -1.1 |
WHITEHORSE | 189.9 | 189.9 | 0 |
VANCOUVER* | 178.7 | 179.1 | 0.4 |
VICTORIA | 185.2 | 182.6 | -2.6 |
PRINCE GEORGE | 163.9 | 163.6 | -0.3 |
KAMLOOPS | 169.2 | 168.3 | -0.9 |
KELOWNA | 169.5 | 167.9 | -1.6 |
FORT ST. JOHN | 164.5 | 164.9 | 0.4 |
ABBOTSFORD | 169.5 | 159.3 | -10.2 |
YELLOWKNIFE | 168.9 | 168.9 | 0 |
CALGARY* | 135.3 | 133.8 | -1.5 |
RED DEER | 136.9 | 136.9 | 0 |
EDMONTON | 137 | 136.5 | -0.5 |
LETHBRIDGE | 143.3 | 143.3 | 0 |
LLOYDMINSTER | 134.8 | 134.9 | 0.1 |
GRANDE PRAIRIE | 141.9 | 141.9 | 0 |
REGINA* | 155.4 | 152.8 | -2.6 |
SASKATOON | 150.2 | 143.4 | -6.8 |
PRINCE ALBERT | 149.9 | 149.9 | 0 |
MOOSE JAW | 155.9 | 152.9 | -3 |
WINNIPEG * | 152.9 | 153.1 | 0.2 |
BRANDON | 155.9 | 155.9 | 0 |
CITY OF TORONTO* | 153.9 | 152.2 | -1.7 |
BRAMPTON | 153.5 | 152.7 | -0.8 |
ETOBICOKE | 153.9 | 152.4 | -1.5 |
MISSISSAUGA | 153.2 | 152.3 | -0.9 |
NORTH YORK | 153.5 | 152.3 | -1.2 |
SCARBOROUGH | 153.8 | 152.5 | -1.3 |
VAUGHAN/MARKHAM | 153.5 | 152.4 | -1.1 |
OTTAWA | 152.6 | 151.6 | -1 |
KINGSTON | 152 | 148.8 | -3.2 |
PETERBOROUGH | 151.4 | 148.2 | -3.2 |
WINDSOR | 152.7 | 150.9 | -1.8 |
LONDON | 153.5 | 152.7 | -0.8 |
SUDBURY | 156.9 | 153.3 | -3.6 |
SAULT STE MARIE | 159.9 | 159.9 | 0 |
THUNDER BAY | 154.8 | 156.3 | 1.5 |
NORTH BAY | 161.2 | 157.7 | -3.5 |
TIMMINS | 161.3 | 160.7 | -0.6 |
HAMILTON | 152.7 | 150.4 | -2.3 |
ST. CATHARINES | 150.4 | 150.2 | -0.2 |
BARRIE | 152.7 | 151.7 | -1 |
BRANTFORD | 151 | 150.1 | -0.9 |
GUELPH | 152.5 | 152.9 | 0.4 |
KITCHENER | 153.8 | 152.7 | 1.1 |
OSHAWA | 153.5 | 152.3 | -1.2 |
SARNIA | 143.4 | 152.4 | 9 |
MONTRÉAL* | 165.9 | 164.2 | -1.7 |
QUÉBEC | 174.4 | 169.5 | -4.9 |
SHERBROOKE | 168 | 165.5 | -2.5 |
GASPÉ | 175.4 | 166.4 | -9 |
CHICOUTIMI | 151 | 148.4 | -2.6 |
RIMOUSKI | 169.6 | 169.4 | -0.2 |
TROIS RIVIÈRES | 173.2 | 169.2 | -4 |
DRUMMONDVILLE | 170.7 | 166.3 | -4.4 |
VAL D'OR | 164.6 | 164.6 | 0 |
GATINEAU | 163.4 | 156 | -7.4 |
SAINT JOHN* | 160.1 | 163.4 | 3.3 |
FREDERICTON | 160.6 | 164 | 3.4 |
MONCTON | 161.1 | 164.1 | 3 |
BATHURST | 161 | 164.4 | 3.4 |
EDMUNDSTON | 160.7 | 163.6 | 2.9 |
MIRAMICHI | 162.1 | 164.9 | 2.8 |
CAMPBELLTON | 161.9 | 164.9 | 3 |
SUSSEX | 158.9 | 163.4 | 4.5 |
WOODSTOCK | 162.1 | 165.3 | 3.2 |
HALIFAX* | 164.4 | 166.6 | 2.2 |
SYDNEY | 166.3 | 168.5 | 2.2 |
YARMOUTH | 165.4 | 167.6 | 2.2 |
TRURO | 165.5 | 167.7 | 2.2 |
KENTVILLE | 164.9 | 167.1 | 2.2 |
NEW GLASGOW | 165.5 | 167.7 | 2.2 |
CHARLOTTETOWN* | 164.4 | 164.3 | -0.1 |
ST JOHNS* | 172.2 | 169.6 | -2.6 |
GANDER | 174.7 | 172.1 | -2.6 |
LABRADOR CITY | 178.8 | 176.1 | -2.7 |
CORNER BROOK | 172.9 | 170.3 | -2.6 |
GRAND FALLS | 174.7 | 172.1 | -2.6 |
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.
Download the Yahoo Finance app, available for Apple and Android.
