Prowling the Pumps – Feb. 3, 2009

Canadian Gasoline Prices

Average across Canada

Back on the rise – up 1.6¢ per litre this week. Despite slight drops in five jurisdictions and no change in three others, hefty rises in Quebec and Prince Edward Island lifted the average price. However, the overall changes of the last three weeks are tame in comparison with those of the summer, so the Prowler is willing to say that, for the early part of the year, prices have been fairly stable.

The biggest increase this week, 5.5¢ per litre, was in Prince Edward Island. Quebec wasn’t far behind at 3.4¢ per litre. The biggest decrease, at 1.5¢ per litre, was in Saskatchewan.

In 11 cities, four fewer than last week, prices were between 70¢ and 80¢ per litre; in 39 cities, two more than last week, prices were between 80¢ and 90¢; and in nine cities, again two more than last week, it higher than 90¢. In only one city were prices higher than $1.00 per litre.

Least Expensive Gasoline in Canada (per litre)

For the early part of the year, the Prowler is seeing more variation in the members of the low-cost five (or six in case of a tie). Last year it was all Ontario and Alberta, but this year, New Brunswick is becoming more prominent, despite significantly higher taxes than the other two. This may have something to do with Canada’s largest refinery being in Saint John, although Saint John itself rarely cracks the cheap five.

Most Expensive Gasoline in Canada (per litre)

Not much change in the pricey five with respect to members, just a bit of jockeying for position.

Excluding taxes, Yellowknife has the most expensive gasoline in the country, 13¢ per litre more expensive than the next priciest city, Montreal. However, taxes in Montreal are 12.5¢ per litre greater than in Yellowknife, so other than Yellowknife, taxes are the big reason for inclusion in the pricey five. Both Vancouver and Montreal have municipal carbon taxes, and Newfoundland and Labrador has high taxes period.

With the price of oil hovering around the $41.00 US per barrel mark, one (in this case one meaning the Prowler) would think that gasoline prices would have gone down from last week when average oil prices were higher. Prices of other petroleum products either remained steady or dropped slightly, so why did gasoline prices rise? The prowler’s guess is demand, although, if that were the case, one would think heating oil prices, especially in the Maritimes would be going through the roof. In any case, the increase was only 1.6¢ per litre and that really doesn’t warrant much concern. Or does it?

We’ll see what happens next week.

Pricing by Province

	Last Week	This Week	Change
BC	0.912	0.904	-0.008
AB	0.798	0.798	0.000
SK	0.897	0.882	-0.015
MB	0.842	0.842	0.000
ON	0.803	0.809	0.006
QC	0.824	0.858	0.034
NB	0.810	0.807	-0.003
PE	0.789	0.844	0.055
NS	0.865	0.851	-0.014
NL	0.942	0.935	-0.007
YT	0.869	0.869	0.000
NT	1.002	1.017	0.015