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Gas prices see 'largest single-day jump since early 2022': En-Pro International

On Thursday afternoon, En-Pro International posted on X that
On Thursday afternoon, En-Pro International posted on X that "gas prices spiked 14 cents overnight, the largest single day jump since early 2022." (AP Photo/Jenny Kane) (The Associated Press)

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."

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"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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