February 2024. Kalibrate's Canadian Petroleum Price Snapshot

Gasoline

February retail gasoline prices rose 7.2 cpl to 157.1

Retail gasoline prices in Canada climbed in February, rising 7.2 cents per litre over the month. Ongoing tensions in the Middle East and Russia and continued crude production limits by OPEC and Allies (OPEC+) contributed to higher crude oil prices in February, leading to higher retail gasoline prices. In addition, unplanned refinery outages have contributed to higher retail prices, particularly in the Prairie Provinces and the West Coast of Canada, where retail prices climbed on average nearly fifteen cents per litre in February.

In February, the largest price increase was observed in Red Deer, Alberta, where retail gasoline prices rose 20.6 cents per litre to 137.9 cents per litre. In contrast, prices in Sarnia, Ontario, fell the most this past month, down 11.8 cents per litre to 136.8 cents per litre. Overall, retail gasoline prices ended February the lowest in Winnipeg and Brandon, Manitoba, at 133.9 cents per litre, and were the most expensive in Vancouver, British Columbia, at 190.1 cents per litre.

Diesel

February retail diesel prices rose 0.4 cpl to 171.8

In February, retail diesel prices in Canada increased a modest 0.4 cents per litre. Despite rising crude prices and declining North American distillate inventories in February, subdued demand this past winter allowed distillate prices to remain virtually unchanged from the end of January. Refinery issues in the U.S. Midwest likely contributed to higher retail diesel prices in the Prairie Provinces, with the largest price increase observed in Edmonton, Alberta, rising 10.8 cents per litre to 159.3 cents per litre. In contrast, the largest price decrease was observed in Gatineau, Quebec, where prices fell 6.1 cents per litre in February to 180.9 cents per litre. Overall, retail diesel prices ended February the lowest in Brandon, Manitoba, at 154.4 cents per litre, and were the most expensive in Labrador City, Newfoundland, at 212.7 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/