Prowling the Pumps – September 24, 2008
September 24, 2008
Canadian Gasoline Prices
Average across Canada
| This week: | $1.205 per litre |
| Last week: | $1.360 per litre |
| Last Year: | 0.997 per litre |
The average price of gasoline in Canada dropped a remarkable 15.5¢ this week. Our hypothetical 80-litre tank was $12.40 less expensive to fill this week than last. Gasoline prices slid everywhere except in the Yukon and Northwest Territories, both of which stayed at the same price as last week.
Although hurricane activity in the Gulf of Mexico has abated and actual hurricanes are not a problem this week, some Gulf coast refineries are still out of commission. And only two-thirds of Gulf of Mexico oil production has been restored. This in itself should have pushed oil and gasoline prices higher, but the U.S. financial crisis seems to have had an overall dampening effect on prices.
Least Expensive Gasoline in Canada (per litre)
Kingston, ON
St. Catharines, ON
Hamilton, ON
Windsor, ON
| Excluding Taxes | Taxes | Total | |
| Ottawa, ON | $0.832 | $0.301 | $1.133 |
| $0.837 | $0.301 | $1.138 | |
| $0.854 | $0.302 | $1.156 | |
| $0.866 | $0.302 | $1.168 | |
| $0.866 | $0.303 | $1.169 |
Despite Alberta having the lowest average gasoline prices, the five least expensive cities in which to buy gasoline are all in Ontario. And Kingston reappears after a one-week absence.
Most Expensive Gasoline in Canada (per litre)
Labrador City, NL
Fort St. John, BC
Whitehorse, YT
Gander, NL
| Excluding Taxes | Taxes | Total | |
| Yellowknife, NT | $1.285 | $0.282 | $1.567 |
| $1.023 | $0.432 | $1.455 | |
| $1.088 | $0.336 | $1.424 | |
| $1.170 | $0.229 | $1.399 | |
| $0.970 | $0.426 | $1.396 |
Pretty much the same story as last week for the pricey five. Whitehorse back in, Victoria back out and a bit of jockeying around for the other four.
The financial crisis in the US is causing a lot of volatility in the global oil markets. WTI prices slid as low as $91.15 US per barrel last Wednesday, then rocketed $16.37 US per barrel to close at $120.92, after flirting with $130.00 mid-session. Although part of this rise was due to settling of September futures prior to October becoming the front-end month, a weakening U.S. dollar did put upward pressure on crude prices. Since Monday, oil has remained above $100 US per barrel.
As ever, we’ll see what happens next week.
Pricing by Province
| $/litre | Last Week | This Week | Change | |
| BC | 1.475 | 1.333 | -0.142 | |
| AB | 1.352 | 1.199 -0.153 | ||
| SK | 1.449 | 1.279 | -0.170 | |
| MB | 1.409 | 1.232 | -0.177 | |
| ON | 1.399 | 1.211 | -0.188 | |
| QC | 1.431 | 1.273 -0.158 | ||
| NB | 1.406 | 1.258 | -0.148 | |
| PE | 1.380 | 1.276 | -0.104 | |
| NS | 1.442 | 1.263 | -0.179 | |
| NL | 1.525 | 1.400 | -0.125 | |
| YT | 1.399 | 1.399 | 0.000 | |
| NT | 1.567 | 1.567 | 0.000 |
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