Prowling the Pumps – January 27, 2009

Canadian Gasoline Prices

Average across Canada

Despite most provinces and territories showing a slight gain in prices, the average price of gasoline actually dropped 1.8¢ per litre this week. The discrepancy lies in the population-based weighting. Gasoline in major cities declined, but elsewhere, it rose. The average price of gasoline in Canada this week was 81.8¢ per litre. And although that’s 21.9¢ per litre cheaper than it was last year at this time, it’s still 10.7¢ more expensive than the 71.7¢ we were paying at the start of 2009.

Saskatchewan, Manitoba and Quebec saw modest decreases in price, and Prince Edward Island remained steady, the rest of Canada saw increased prices – as much as 4.7¢ per litre in Nova Scotia.

In 15 cities, prices were between 70¢ and 80¢ per litre; in 37 prices were between 80¢ and 90¢; and in 7 it higher than 90¢. And one city broke the $1.00 barrier on the way up.

Least Expensive Gasoline in Canada (per litre)

Last week, New Brunswick dominated the low-cost five; this week it’s back to Ontario with Lethbridge sneaking in.

Most Expensive Gasoline in Canada (per litre)

Once again Whitehorse dodged the costly five, and the trend this year seems to be Newfoundland and Labrador and British Columbia with a special guest from another province. And other than Yellowknife, higher taxes are another trend.

With the price of oil bouncing around between $40 US to $48 US per barrel, and good reasons for it staying in that range – lots of production, lots in storage and little demand; it seems to the Prowler that gasoline prices may stabilize for a while.

We’ll see what happens next week.

Pricing by Province

	Last Week	This Week	Change
BC	0.910	0.912	0.002
AB	0.792	0.798	0.006
SK	0.899	0.897	-0.002
MB	0.843	0.842	-0.001
ON	0.801	0.803	0.002
QC	0.834	0.824	-0.010
NB	0.759	0.810	0.051
PE	0.789	0.789	0.000
NS	0.818	0.865	0.047
NL	0.885	0.942	0.057
YT	0.849	0.869	0.020
NT	0.972	1.002	0.030