June 2024. Kalibrate's Canadian Petroleum Price Snapshot

Gasoline

June retail gasoline prices rose 0.1 cpl to 167.6

Canadian retail gasoline prices fell in early June as crude prices declined upon easing geopolitical concerns and indications the Organization of Petroleum Exporting Countries and Allies (OPEC+) could ease crude oil production limits.

Moderated gasoline demand and rising inventories also kept gasoline prices subdued in June. However, as crude oil prices rose later in the month, gasoline also increased and ended the month 0.1 cents per litre higher than the end of the previous month. There were regional variances in retail gasoline price trends in June, with some regions experiencing price declines while others saw prices rise.

The most significant decrease occurred in North Bay, Ontario, where prices fell 11.7 cents per litre to 159.9 by the month’s end. The most significant increase occurred in Chicoutimi, Quebec, up 9.9 cents per litre to 164.4. Overall, retail gasoline prices ended June the lowest in Winnipeg, Manitoba, at 136.7 cents per litre, and finished the month the most expensive in Whitehorse, Yukon, at 189.9 cents per litre.

Diesel

June retail diesel prices rose 4.5 cpl to 172.3

Canadian retail diesel prices rose in June upon higher crude oil prices and expanding margins.

Although North America’s demand for distillate fuel has tracked lower year-over-year, distillate inventories generally fell in June as refineries focused on gasoline production in preparation for the busy summer driving season. In June, retail diesel prices increased the most in Kelowna, British Columbia, rising 8.2 cents per litre over the month to 179.9.

In contrast, retail diesel prices declined the most in Drummondville, Quebec, falling 7.3 cents per litre over the month to 173.9. Retail diesel prices in Canada ended June the highest in Labrador City, Newfoundland, at 195.8 cents per litre. Meanwhile, retail diesel prices ended June the lowest in Sarnia, Ontario, at 153.9 cents per litre.

We conduct a daily survey of retail gasoline, diesel, propane, and furnace fuel prices in 77 Canadian cities.

Canadian petroleum prices are available for download and display using a variety of analytic tools on our website: https://charting.kalibrate.com/