December 2023 Canadian Petroleum Price Snapshot

Gasoline

December retail gasoline prices fell 6.9 cpl to 145.6

Retail gasoline prices in Canada fell 6.9 cents per litre in December from the end of November and ended the year 4.8 cents per litre lower than the end of 2022.

Gasoline prices in Canada reached their lowest level of the year in December as crude oil and wholesale gasoline prices declined. Wholesale gasoline prices declined in December as demand weakened and inventories increased. According to our survey, at the end of December, the cheapest place to purchase gasoline in Canada was in Calgary, Alberta, at 114.3 cents per litre. In contrast, the most expensive place to buy gasoline was in Vancouver, British Columbia, where gas prices ended the year at 171.2 cents per litre.

Diesel

December retail diesel prices fell 14.8 cpl to 167.3

Retail diesel prices in Canada also declined in December, falling 14.8 cents per litre from the end of November.

Like gasoline prices, lower crude oil prices and declining wholesale diesel prices contributed to lower diesel prices. Compared to the end of 2022, diesel prices ended the year in Canada 38.4 cents per litre lower. Although North American distillate inventories remain historically low, demand for distillate fuel has tracked lower in 2023, and inventories have begun to build at the year’s end, allowing wholesale diesel prices to decline significantly from the end of last year. At the end of 2023, the lowest retail diesel price was observed in Grande Prairie, Alberta, at 141.9  cents per litre, while the most expensive was found in Labrador City, Newfoundland, at 205.0 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/