Gasoline:
Retail gasoline prices increased 6.4 cents per litre to 141.8 in February
In February, gasoline prices in Canada rose 6.4 cents per litre, ending the month at 141.8 cents per litre. Rising crude oil prices and widening refining margins were the main drivers of higher retail prices in February. Crude oil prices steadily rose throughout the month as tensions between the U.S. and Iran escalated, culminating in a conflict at the month’s end. As war erupts in the Middle East, we are witnessing shipping disruptions in the Strait of Hormuz, reduced crude oil production, and attacks on oil infrastructure, which have pushed crude oil prices higher since the month’s end. Regional gasoline prices in Western Canada rose more than in other areas in February, particularly on the West Coast. The temporary closure of the Olympic Pipeline, which transports refined products from Washington State near the Canadian border to Oregon, caused wholesale prices in many western Canadian markets to increase towards the end of the month. Supplies along the North American West Coast are already strained and prone to price spikes due to reduced refinery capacity with the closure of one California refinery in 2025 and a second set to close in spring 2026.
In February, Victoria, British Columbia, experienced the largest price increase, with gasoline prices rising 27.9 cents per litre to reach 177.2 cents per litre, the highest in Canada. Conversely, only a few markets saw price declines. The largest drop, of just 0.5 cents per litre, occurred in Drummondville, Quebec, where prices fell to 139.1 cents per litre by month’s end. However, the lowest price in Canada at the end of February was in Lethbridge, Alberta, at 115.9 cents per litre.
Diesel:
Retail diesel prices increased 5.4 cents per litre to 169.3 in February
Retail diesel prices also increased in February, rising 5.4 cents per litre to end the month at 169.3 cents per litre amid higher crude oil prices and wider refining margins. By the end of February, retail diesel prices were 27.5 cents per litre above retail gasoline prices, driven by increased seasonal demand for home heating fuel and increased risks to global supplies from the conflict in the Middle East. European markets depend on diesel trade flows from the Middle East, as Russian imports are currently banned. As tensions in the Middle East escalated in February, diesel refining margins in Canada hit their highest levels in over three years.
The largest diesel price increase in February occurred in Bathurst, New Brunswick, where prices rose 22.1 cents per litre, ending the month at 192.5 cents per litre. However, this was not the highest price in Canada. The highest price at the end of January was observed in Labrador City, Newfoundland, at 204.1 cents per litre. There were no markets with diesel price decreases in February. Overall, the lowest price at the end of February was found in Prince Albert, Saskatchewan, at 141.9 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: Charting.kalibrate.com/
