July 2023 Canadian Petroleum Price Snapshot

We conduct a daily survey of retail gasoline, diesel, propane, and furnace fuel prices in 77 Canadian cities. Petroleum prices are available for download and display using a variety of analytic tools on our website.

Gasoline

The average Canadian retail unleaded price ended the month 11.5 cents per litre higher than the end of June. Except for Manitoba, where retail unleaded prices declined a modest 0.2 cents per litre, all provinces experienced an increase in retail unleaded prices, the largest increase occurring in Nova Scotia at 34.7 cents per litre. Higher crude prices contributed to a significant portion of the rise in gasoline prices, as the average Canadian crude input price increased 8.3 cents per litre over the month. A more prominent increase in gasoline prices in the Atlantic provinces was likely due to declining gasoline inventories along the U.S. East Coast in July (as reported by the U.S. Energy Information Administration’s weekly petroleum report) and higher demand due to seasonal factors.

Retail gasoline prices rose 11.5cpl to 173.2 in July.

Diesel

Retail diesel prices climbed in Canada this past month, ending July 17.7 cents per litre higher than at the end of June. All provinces experienced an increase in retail diesel prices in July, with the largest increase in prices occurring in the Atlantic provinces, up 42.5 cents per litre in Nova Scotia alone. Although according to the U.S. Energy Information Administration’s weekly petroleum report, distillate inventories in the U.S. have increased in the last couple of months, inventories are below typical levels for July, particularly along the East Coast. The eastern coast of North America relies more on distillates for home heating. Suppliers begin to prepare for the heating season this time of year by building supplies. Lower inventories are likely the main contributor to higher diesel prices, particularly as demand remains muted.

Retail diesel prices rose 17.7cpl to 171.3 in July.

We conduct a daily survey of retail gasoline, diesel, propane, and furnace fuel prices in 77 Canadian cities. Petroleum prices are available for download and display using a variety of analytic tools on our website: https://charting.kalibrate.com/

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