Yahoo Finance Gas prices: 'It won’t get any better for the Canadian consumer,' expert says
Gas prices climbed an average of two cents per litre across Canada this week. Experts are calling for more hikes at the pump as spring approaches.
The average cost per litre of regular gasoline rose to $1.598 from $1.578 between March 7 and March 14, according to data firm Kalibrate. Whitehorse booked the biggest weekly gain, at 10 cents per litre. The biggest decline was in Peterborough, Ont., at 8.2 cents.
Roger McKnight, chief petroleum analyst at Ontario-based En-Pro International, sees prices pushing higher. He says that's largely thanks to a more expensive summer blend, as well as tight crude and refined product inventories.
"A huge draw on gasoline is also troubling, and there’s no relief in sight," McKnight wrote in a blog published on Thursday. "Refinery runs are stuck in first gear, while demand for gasoline and diesel is moving into third gear as we get closer to the summer driving season. This has forced futures and rack prices to increase."
He also notes the April 1 increase to the federal carbon tax.
"It won’t get any better for the Canadian consumer, with the 3.3 cents per litre increase in the carbon tax set for April Fool’s Day," McKnight wrote.
Gasoline prices are forecast to rise in the United States as well.
Next week, international gas station giant Alimentation Couche-Tard (ATD.TO) will report its latest financial results. The Quebec-based company operates more than 14,000 locations in 25 countries under brands like Circle K and Couche-Tard. Last quarter, CEO Brian Hannasch warned investors that cash-strapped consumers are tightening their belts.
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
Location | Mar. 7 | Mar. 14 | Price change |
Canada Average (V) | 157.8 | 159.8 | 2 |
WHITEHORSE | 169.9 | 179.9 | 10 |
VANCOUVER* | 191.1 | 194.5 | 3.4 |
VICTORIA | 184 | 192.2 | 8.2 |
PRINCE GEORGE | 164.1 | 164.6 | 0.5 |
KAMLOOPS | 167.5 | 167.5 | 0 |
KELOWNA | 165.1 | 164.8 | -0.3 |
FORT ST. JOHN | 164.2 | 162.9 | -1.3 |
ABBOTSFORD | 173.2 | 183 | 9.8 |
YELLOWKNIFE | 158.9 | 155.9 | -3 |
CALGARY* | 148.9 | 147.9 | -1 |
RED DEER | 145.4 | 143.3 | -2.1 |
EDMONTON | 146.7 | 140.7 | -6 |
LETHBRIDGE | 147.6 | 148.9 | 1.3 |
LLOYDMINSTER | 145.6 | 146.9 | 1.3 |
GRANDE PRAIRIE | 145.3 | 144.9 | -0.4 |
REGINA* | 149.8 | 149.8 | 0 |
SASKATOON | 149.8 | 149.3 | -0.5 |
PRINCE ALBERT | 149.9 | 149.9 | 0 |
MOOSE JAW | 149.9 | 149.9 | 0 |
WINNIPEG * | 133 | 133.3 | 0.3 |
BRANDON | 133.6 | 132.9 | -0.7 |
CITY OF TORONTO* | 148.6 | 151.6 | 3 |
BRAMPTON | 148.6 | 151.7 | 3.1 |
ETOBICOKE | 148.3 | 151.4 | 3.1 |
MISSISSAUGA | 147.5 | 150.6 | 3.1 |
NORTH YORK | 148.3 | 151.7 | 3.4 |
SCARBOROUGH | 148.5 | 150.9 | 2.4 |
VAUGHAN/MARKHAM | 148.8 | 151.9 | 3.1 |
OTTAWA | 148.6 | 150.7 | 2.1 |
KINGSTON | 144.9 | 145.1 | 0.2 |
PETERBOROUGH | 146.2 | 138 | -8.2 |
WINDSOR | 147.7 | 150.9 | 3.2 |
LONDON | 148.3 | 151.6 | 3.3 |
SUDBURY | 158 | 155.3 | -2.7 |
SAULT STE MARIE | 149.6 | 149.6 | 0 |
THUNDER BAY | 162.9 | 161.9 | -1 |
NORTH BAY | 157.7 | 155.2 | -2.5 |
TIMMINS | 156.5 | 155.6 | 0.1 |
HAMILTON | 147.3 | 150.1 | 2.8 |
ST. CATHARINES | 147.1 | 149.4 | 2.3 |
BARRIE | 147.8 | 150.8 | 3 |
BRANTFORD | 145 | 147.3 | 2.3 |
GUELPH | 148.2 | 152 | 3.8 |
KITCHENER | 148.1 | 150.8 | 2.7 |
OSHAWA | 148.6 | 151.7 | 3.1 |
SARNIA | 149.5 | 152.9 | 3.4 |
MONTRÉAL* | 164.9 | 166.5 | 1.6 |
QUÉBEC | 162.8 | 162.3 | -0.5 |
SHERBROOKE | 156.7 | 160.2 | 3.5 |
GASPÉ | 169.7 | 169.7 | 0 |
CHICOUTIMI | 150.6 | 149.9 | -0.7 |
RIMOUSKI | 163.4 | 162.7 | -0.7 |
TROIS RIVIÈRES | 161.7 | 162.4 | 0.7 |
DRUMMONDVILLE | 157.9 | 161.1 | 3.2 |
VAL D'OR | 163.6 | 163.6 | 0 |
GATINEAU | 146.8 | 144 | -2.8 |
SAINT JOHN* | 161 | 161.5 | 0.5 |
FREDERICTON | 161.4 | 161.8 | 0.4 |
MONCTON | 161.8 | 162.3 | 0.5 |
BATHURST | 161.7 | 162.6 | 0.9 |
EDMUNDSTON | 160.8 | 161.2 | 0.4 |
MIRAMICHI | 162.9 | 163.6 | 0.7 |
CAMPBELLTON | 162.9 | 161.9 | -1 |
SUSSEX | 160.7 | 160.3 | -0.4 |
WOODSTOCK | 162.8 | 163.3 | 0.5 |
HALIFAX* | 160.6 | 163.9 | 3.3 |
SYDNEY | 162.5 | 165.8 | 3.3 |
YARMOUTH | 161.5 | 164.9 | 3.4 |
TRURO | 161.7 | 165 | 3.3 |
KENTVILLE | 161.1 | 164.4 | 3.3 |
NEW GLASGOW | 161.7 | 165 | 3.3 |
CHARLOTTETOWN* | 161.1 | 163.7 | 2.6 |
ST JOHNS* | 172.4 | 171 | -1.4 |
GANDER | 174.7 | 173.4 | -1.3 |
LABRADOR CITY | 179 | 177.7 | -1.3 |
CORNER BROOK | 173.1 | 171.8 | -1.3 |
GRAND FALLS | 174.9 | 173.6 | -1.3 |
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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