Yahoo Finance Gas prices: 'Cautious consumers' are putting less fuel in their tanks, CEO warns
Gas prices mainly trickled down across Canada over the past week. The average cost of a litre of regular fuel barely budged by a penny on the heels of bigger swings in April.
Abbotsford, B.C., and North Bay, Ont. were the most volatile markets between April 25 and May 2, posting an 8.3 cent per litre gain, and a 6.9 per cent decline, respectively. According to data from Kalibrate, the average cost per litre of regular gasoline in cities nationwide fell to $1.761.
Enpro’s Roger McKnight says forecasting prices lately has been about as challenging as predicting Spring weather in Canada. In a blog on Thursday, the chief petroleum analyst cited the Federal Reserve and smaller seasonal refinery runs among the moving parts impacting prices.
"Consumers are left drumming their fingers as they keep their credit cards in their wallets, and stay away from the pumps," McKnight wrote.
Parkland (PKI.TO), the Canadian company behind gas station brands like On The Run and Ultramar, also pointed to cash-strapped customers when it reported financial results on Wednesday. The company's network spans 26 countries, but the bulk of its nearly 4,000 locations are in Canada.
"The inflationary environment is creating cautious consumers who are closely managing their spend," CEO Bob Espey told analysts on a post-earnings conference call on Thursday.
"We are seeing customers put less fuel in their tank, but come more often," he added. "Average fill size is down approximately six per cent, while frequency has increased by 10 per cent. Higher frequency visits create more opportunities for customers to visit our On The Run convenience stores."
If you're looking to buy something pricier than gas and snacks, Parkland is selling 157 Canadian fuel and convenience store locations.
"There's a lot of interest from individuals who want to buy a site, become a dealer, as well as buyers who want potentially to have multiple sites," Parkland chief financial officer Marcel Teunissen said on Thursday's call with stock analysts.
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
LOCATION | April 25 | May 2 | Price change |
Canada Average (V) | 176.6 | 176.1 | -0.5 |
WHITEHORSE | 189.9 | 189.9 | 0 |
VANCOUVER* | 211.7 | 210.2 | -1.5 |
VICTORIA | 206.9 | 209.6 | 2.7 |
PRINCE GEORGE | 168.9 | 168.8 | -0.1 |
KAMLOOPS | 181.6 | 181.3 | -0.3 |
KELOWNA | 175.7 | 173.9 | 0.2 |
FORT ST. JOHN | 176.9 | 174.9 | -1.7 |
ABBOTSFORD | 197.7 | 206 | 8.3 |
YELLOWKNIFE | 161.9 | 161.9 | 0 |
CALGARY* | 157.7 | 156 | -1.7 |
RED DEER | 159 | 159 | 0 |
EDMONTON | 152.8 | 151 | -1.8 |
LETHBRIDGE | 161.9 | 161.6 | -0.3 |
LLOYDMINSTER | 154.9 | 154.9 | 0 |
GRANDE PRAIRIE | 157.5 | 156.9 | -0.6 |
REGINA* | 156.9 | 156.9 | 0 |
SASKATOON | 156.4 | 153.3 | -3.1 |
PRINCE ALBERT | 158.9 | 158.8 | -0.1 |
MOOSE JAW | 158.7 | 158.7 | 0 |
WINNIPEG * | 141.7 | 141.7 | 0 |
BRANDON | 143.3 | 143.3 | 0 |
CITY OF TORONTO* | 172.3 | 172.3 | 0 |
BRAMPTON | 172.6 | 172 | -0.6 |
ETOBICOKE | 172.2 | 171.6 | -0.6 |
MISSISSAUGA | 171.2 | 171.3 | 0.1 |
NORTH YORK | 172.8 | 172.6 | -0.2 |
SCARBOROUGH | 171.8 | 172.5 | 0.7 |
VAUGHAN/MARKHAM | 172.3 | 172 | -0.3 |
OTTAWA | 171.2 | 171.5 | 0.3 |
KINGSTON | 166.8 | 166.6 | -0.2 |
PETERBOROUGH | 166.1 | 164.1 | -2 |
WINDSOR | 171 | 171.1 | 0.1 |
LONDON | 171.4 | 171.7 | 0.3 |
SUDBURY | 174.3 | 178.6 | 4.3 |
SAULT STE MARIE | 171.4 | 170.8 | -0.6 |
THUNDER BAY | 172.5 | 169.9 | -2.6 |
NORTH BAY | 175.4 | 168.5 | -6.9 |
TIMMINS | 180.1 | 179.2 | 0.9 |
HAMILTON | 170.1 | 170.2 | 0.1 |
ST. CATHARINES | 169 | 169.5 | 0.5 |
BARRIE | 171.7 | 171.9 | 0.2 |
BRANTFORD | 167.8 | 167.9 | 0.1 |
GUELPH | 171.6 | 171.4 | -0.2 |
KITCHENER | 171.2 | 171.4 | 0.2 |
OSHAWA | 172.1 | 172.2 | 0.1 |
SARNIA | 170.4 | 169.6 | -0.9 |
MONTRÉAL* | 184.2 | 183.4 | -0.8 |
QUÉBEC | 189.2 | 188.5 | -0.7 |
SHERBROOKE | 182 | 179.9 | -2.1 |
GASPÉ | 189.4 | 189.4 | 0 |
CHICOUTIMI | 174.2 | 169 | -5.2 |
RIMOUSKI | 186.1 | 178.1 | -8 |
TROIS RIVIÈRES | 186.3 | 184.9 | -1.4 |
DRUMMONDVILLE | 180.7 | 180.7 | 0 |
VAL D'OR | 183.4 | 182.6 | 0.8 |
GATINEAU | 169.2 | 166.6 | 2.6 |
SAINT JOHN* | 179 | 177.7 | -1.3 |
FREDERICTON | 181.8 | 178.1 | -3.7 |
MONCTON | 182.1 | 178.3 | -3.8 |
BATHURST | 182.1 | 178.6 | -3.5 |
EDMUNDSTON | 180.9 | 177.2 | -3.7 |
MIRAMICHI | 183.1 | 179.5 | -3.6 |
CAMPBELLTON | 183.2 | 179.5 | -3.7 |
SUSSEX | 181.6 | 177.9 | -3.7 |
WOODSTOCK | 183.1 | 179.4 | -3.7 |
HALIFAX* | 185 | 187.3 | 2.3 |
SYDNEY | 186.9 | 189.3 | 2.4 |
YARMOUTH | 186 | 188.3 | 2.3 |
TRURO | 186.1 | 188.5 | 2.4 |
KENTVILLE | 185.5 | 187.9 | 2.4 |
NEW GLASGOW | 186.1 | 188.5 | 2.4 |
CHARLOTTETOWN* | 177.6 | 183.3 | 5.7 |
ST JOHNS* | 190.9 | 191.9 | 1 |
GANDER | 193.5 | 194.4 | 0.9 |
LABRADOR CITY | 197.6 | 198.5 | 0.9 |
CORNER BROOK | 191.8 | 192.6 | 0.8 |
GRAND FALLS | 193.5 | 194.4 | 0.9 |
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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