Prowling the Pumps – August 12, 2008

On the case, lurking at service stations across the country to find the lowest and highest gasoline prices in Canada.

Average across Canada

Some say it’s a rollercoaster – up one week, down the next. But let’s face it folks, the fluctuations are miniscule. Up half a cent last week. Down 1.7¢ this week. Average provincial gasoline prices dropped everywhere except New Brunswick. The real story is that since July 15, the average gasoline price in Canada has dropped about 11¢ per litre. Our hypothetical 80-litre tank is $8.64 per litre less expensive than it was one month ago.

Least Expensive Gasoline in Canada (per litre)

Again, Ontario places four cities in the low-cost five versus Alberta with one, and Sudbury, new to the low-cost five, creeps in moving Edmonton down one notch. However, with the Edmonton refinery temporarily out of commission, will gasoline prices rise in Alberta? Will Ontario dominate the low-cost five? We’ll see next week.

Most Expensive Gasoline in Canada (per litre)

It must be particularly hard on the good citizens of Yellowknife to be paying 33.5¢ per litre more for gas than the good citizens of Kingston, especially when taxes on gasoline are lower in the Northwest Territories than they are in Ontario.

Oil prices continued their downward trend over the past week, with West Texas Intermediate moving to $113.10 per barrel, and although there has been some upward movement in the past day due to diminished U.S. stocks and the tension between Russia and Georgia, prices have not reacted as strongly as they would have earlier in the year. Some experts are predicting even lower prices in the fall, pointing to a general softening in demand.
We’ll see what happens next week.