Prowling the Pumps – August 26, 2008

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

Average across Canada

Our two-week decline ends with a whopping 0.2¢ per litre increase despite average prices dropping (very slightly) in most jurisdictions. Worst case scenario is that this is the beginning of a reversal. The Pump Prowler wants to believe gasoline prices are still falling; this week’s increase is just a bump on the curve.

Least Expensive Gasoline in Canada (per litre)

The low-cost five weren’t as low cost as they were last week, but the increases were slight. Kingston maintains its unrelenting grip on the lowest gasoline prices in Canada, but Ontario cities no longer dominate the inexpensive few. Chicoutimi enters the low-cost five for the first time, despite some of the highest gasoline taxes in Canada. And Edmonton and Lloydminster are back.

Most Expensive Gasoline in Canada (per litre)

Same cities, same order. But, gasoline prices either dropped or remained the same in the pricey five. Hence the overall drop in gasoline prices.

Oil prices continued to rise, with West Texas Intermediate moving to $116.27 US per barrel from $114.53 last Tuesday. Between the Tuesdays, it rose as high as $121 because of tensions between Russia and the U.S. and the potential for Tropical Storm Faye to re-enter the Gulf of Mexico. That’s a climb of $3.17 over the last two weeks, and we can expect more as Tropical Storm Gustav continues to build as it tracks toward the Texas/Louisiana coast.

So last week the Pump Prowler mused that oil prices were becoming less volatile. Almost immediately they shot up about six bucks per barrel, then came right back down. So maybe there’s still a bit of volatility. At least prices came back down again.
We’ll see what happens next week.

Prowling the Pumps – August 19, 2008

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

Average across Canada

Down another 1.5¢ per litre this week. That makes two weeks in row. Average prices fell in five provinces as well as in the Yukon and Northwest Territories. They rose in Quebec, Nova Scotia and Newfoundland and Labrador and remained unchanged in British Columbia and Saskatchewan. And where they did change, the amount was slight, up or down.

Least Expensive Gasoline in Canada (per litre)

Last week we asked the Question “Will Ontario dominate the low-cost five?” And the answer this week is a resounding yes – shut every other province out completely. But the problems with Petro-Canada’s Edmonton refinery have apparently had little effect on prices in Alberta, which actually fell half a cent per litre.

Most Expensive Gasoline in Canada (per litre)

Victoria and Fort St. John, BC crept back into the pricey five, but Yellowknife and Labrador City retained their stranglehold on the most expensive gasoline in Canada.

Oil prices reversed their downward trend, with West Texas Intermediate moving to $114.53 US per barrel. That’s a gain of $1.43 per barrel over last week, due, the pundits say, to a weakening US dollar and low gasoline stocks. But, before we start bracing ourselves for another precipitous climb in gasoline prices, let’s remember that there are roughly 159 litres in a barrel of oil, meaning the impact of a $1.43 per barrel rise in oil translates to less than a cent per litre of gasoline.

Are oil markets becoming less volatile? The Pump Prowler thinks that earlier in the year, a weakening US dollar and Tropical Storm Faye would have pushed oil prices up far more than $1.43. Maybe the speculators are still on vacation and the market is reacting realistically to true market forces.
We’ll see what happens next week.

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.

Prowling the Pumps – July 29, 2008

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

Average across Canada

The average price of gasoline in Canada rose by 0.5¢ per litre. The end of the slide? Probably not. A technical correction? Maybe. A significant event. Definitely not. The cost of our hypothetical 80-litre gas tank only rose 40¢ over the past week. And even that may be a blip.

Least Expensive Gasoline in Canada (per litre)

Again, Ontario places four cities in the low-cost five versus Alberta with one. With the summer driving season now in full swing, Canada’s most populous province benefits from the large quantities of gasoline sold compared to other Canadian markets.

Most Expensive Gasoline in Canada (per litre)

For the second week in a row, Quebec has been shut out of the pricey five. Probably no crying there. British Columbia places two cities in the pricey five as it did last week. The B.C. carbon tax of 2.4¢ per litre initiated July 1, 2008 is not the culprit here. Even without the tax, Victoria and Fort St. John would still among the five most expensive Canadian cities in which to buy gasoline.

Tuesday, oil was trading as low as $118.60 US per barrel, closing at $119.17. That’s a $28.67 US per barrel slide since crude trading peaked at $147.27 on July 11. Slowing economies have reduced demand for petroleum products and consumers are opting for less expensive means of travel – public transit, more fuel-efficient personal vehicles and car co-ops. One analyst summed it up by saying that the market was focusing more on supply and demand and less on geopolitical and weather-induced factors. What a concept!
We’ll see what happens next week.

Prowling the Pumps – June 17, 2008

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

Average across Canada

This week was marked by a nine-tenths of a cent per litre drop in the average gasoline price, compared to a nearly six cent per litre rise last week. Hardly seems fair.

Our hypothetical 80-litre fuel tank was 72 cents cheaper to fill this week than last. But we’re paying, on average, 27.1 per cent more than this time last year, meaning our hypothetical 80-litre fuel tank cost about $23.12 more to fill in 2008.

Least Expensive Gasoline in Canada (per litre)

There’s not much change in our Alberta versus Ontario battle for the least expensive gasoline in Canada. In fact the biggest change is the 14.7 cent increase in the lowest gasoline price since we began prowling eight weeks ago.

Most Expensive Gasoline in Canada (per litre)

For the sixth consecutive week, Labrador City has the most expensive gas prices in Canada, and for the second week in a row, the only city in our survey to break the $1.50 mark.

Since we began prowling, the most expensive gasoline in Canada has risen nine per cent to $1.505 from $1.382 on April 22.

Oil markets this week attained record highs. How long before gasoline prices reflect that?

Prowling the Pumps – July 15, 2008

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

Average across Canada

Not much change since our last report. Money saved by fuelling up our hypothetical 80-litre gas tank last week would buy you about one eighth of a litre this week.

Least Expensive Gasoline in Canada (per litre)

Once again, it’s Kingston Ontario against Alberta for the top spot in the low-cost five. Kingston is the only city in Canada with a average gas price of less than $1.30. And it leads the pack by 3.7¢, a significant amount seeing as the Alberta four are within a 1.7¢ range.

Most Expensive Gasoline in Canada (per litre)

Corner Brook, Newfoundland and Labrador is the latest to join the pricey five, replacing perennial front runners Gaspé and Rimouski, Quebec. The spread between the least and most expensive cities is a whopping 27 ¢. The difference is split almost half and half by taxes (13.6 ¢) and the actual cost of gasoline (13.4 ¢)

Pundits are hinting that the meteoric rise in oil prices may be abating. Oil prices dropped $10 US per barrel today due to forecast slow economic growth world wide and the potential for global financial challenges stemming from the US housing and mortgage industry crisis.

And this may be the real thing folks. Up to now, any rumour of any kind, good or bad, including OPEC agreeing to pump more oil, has caused a temporary price spike.

We’ll see what happens later this week.

Prowling the Pumps – June 4, 2008

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

Average across Canada

Prices are pretty much the same as last week, only a $0.005 cent drop, meaning our hypothetical 80-litre gas tank cost 40¢ less to fill up this week. However, it’s a 21 percent increase over what we were paying last yea, $18.08 more for our 80-litre fill-up.

Least Expensive Gasoline in Canada (per litre)

After six weeks as the least expensive place in Canada to buy gasoline, Kingston is supplanted by Windsor, which hasn’t made an appearance in the low-cost five since May 6. So it’s Ontario versus Alberta and Ontario’s cheap gas wins over Alberta’s low taxes.

Most Expensive Gasoline in Canada (per litre)

No surprises here. Interesting to note that, since we started prowling the pumps seven weeks ago, the price of gasoline in Labrador City has risen seven percent, for an annualized rate of inflation of 52%. The question is, will the residents of Labrador City be paying $2.06 per litre next April?

As gasoline prices continue to rise, it would appear that consumers are tired of the high cost of fueling SUVs and huge pickup trucks – sales of these vehicles plummeted as much as 69 per cent last month as drivers move to smaller, more fuel efficient vehicles. Consequently, the Big Three North American auto makers are closing down their truck and SUV plants.

Consequently, the Canadian city hit hardest by high gasoline prices is probably Oshawa, Ontario. It’s not a member of the costly five; in fact gas prices in southern Ontario average around $1.29, which is well on the low side for the country. But with it’s truck plant closing, Oshawa will lose more than 2,500 jobs.

Prowling the Pumps – May 27, 2008

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

Average across Canada

Prices are on the rise again, up 4.2 cents per litre from last week. So, our hypothetical 80-litre gas tank cost $3.36 more to fill up this week.

Least Expensive Gasoline in Canada (per litre)

Kingston is the least expensive place In Canada to buy gasoline for the sixth week in a row. I think it’s time somebody slapped a huge tax on Kingston gas so some other city can enjoy the cheapest gas in the country. And Winnipeg came out of nowhere to join the low-cost five for the first time since we began prowling the pumps. If it wasn’t for taxes and Kingston, Winnipeg would have bragging rights.

Most Expensive Gasoline in Canada (per litre)

Taxes and Kingston – that’s all that keeps Gander from having the least expensive gasoline in Canada. But because of those two factors, it has the fourth highest gas prices. Really, of all the members of the pricey five, only Yellowknife has expensive gas. But unlike its compatriots, it also has low taxes.

Back to our proverbial 80-litre gas tank. If you live in Labrador City, but bought your gas in Kingston, you would have saved $19.12 this week.

This week’s excuse for high crude oil prices: Trouble in Nigeria

Prowling the Pumps – May 20, 2008

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

Average across Canada

So…my short term prediction was wrong. Prices dropped $0.004 per litre from last week. Not a huge deal. It means that if you waited until this week to fill up and you have an 80-litre gas tank, you saved a whopping 32 cents.

Least Expensive Gasoline in Canada (per litre)

For the fifth week in a row, Kingston tops our list. But…as with last week, the next four in the low-cost five are all from Alberta. It’s still a battle of high throughput versus low taxes and low taxes won out again.

Most Expensive Gasoline in Canada (per litre)

Looks like Quebec is making real inroads into the pricey five, but Labrador City and Yellowknife still maintain their stranglehold on the two most expensive cities in which to fill up. Again it’s all a matter of taxes. Without taxes, Trois-Rivières would crack the low-cost five and Labrador City would only be three-tenths of a cent out.

Back to my predictions. With crude oil trading above $130.00US per barrel, the price of gasoline has no where to go but up. A $0.004 drop is not a precursor to declining prices.

And speaking of predictions, American oil billionaire T. Boone Pickens, Jr. predicted $150 US per barrel oil before the end of the summer. Boone is noted for his accuracy in forecasting oil prices. He reportedly predicted last year that oil would reach $80.00 US per barrel before he reached 80 years of age. Well, tomorrow, May 22 is Boone’s 80th.

Prowling the Pumps – May 13, 2008

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

Average across Canada

A modest increase over last week, but it could be the beginning of a long, slow rise!
Least Expensive Gasoline in Canada (per litre)

Kingston tops our list for the fourth week in a row, but…the next four in the low-cost five are all from Alberta – a stunning turn of events. Makes sense though. While southern Ontario may have the advantage in terms of population, Alberta has the edge when it comes to taxes – the lowest in the country.

Most Expensive Gasoline in Canada (per litre)

The pricey five welcome Montreal for the first time. Otherwise a just a bit of jockeying for position. Interesting to note that only in Yellowknife and Whitehorse are the actual gasoline prices much higher than the average. In the other three cities, actual prices are comparable to those in the low cost club, in fact Gander and Montreal are less expensive than Lethbridge, Lloydminster and Calgary. The killer is taxes that are almost 20 cents per litre higher. One more reason to join the migration to Wild Rose Country.

If it’s any consolation, the price of oil this week hit $125.80 US per barrel, an increase of 96.4 per cent over the $64.07 US per barrel price this time last year. Gasoline prices have only risen 13.5 per cent …so far.

« Previous Page — Next Page »