July 2024. Kalibrate's Canadian Petroleum Price Snapshot

Gasoline

July retail gasoline prices rose 1.3 cpl to 168.9

The average Canadian gasoline pump price rose moderately in July, ending 1.3 cents per litre higher than the end of last month.

Crude prices declined over July as global economic concerns outweighed ongoing geopolitical concerns abroad, applying downward pressure to gas prices. In contrast, rising demand and declining North American gasoline stocks applied upward pressure to prices. This was most apparent in the Prairie Provinces, which experienced substantial price increases over July. The most significant increase occurred in Saskatoon, Saskatchewan, where prices rose 17.3 cents per litre to 168.3 by the month’s end. Prices declined the most in Trois Rivieres, Quebec, down 8.0 cents per litre to 168.4.

Overall, retail gasoline prices ended July the lowest in Brandon, Manitoba, at 149.2 cents per litre, and finished the month the most expensive in Whitehorse, Yukon, at 189.9 cents per litre.

Diesel

July retail diesel prices fell 4.9 cpl to 167.4

In July, retail diesel prices in Canada declined 4.9 cents per litre, moving in tandem with declining crude oil prices. Diesel prices are generally tied to the economy, and this year’s moderate economic growth in Canada has led to subdued diesel fuel demand this summer. Seasonal diesel fuel demand will likely pick up as we head to the fall harvest and home heating seasons, and with that, diesel prices will likely rise in the coming months.

In July, retail diesel prices declined the most in Vancouver, British Columbia, falling 8.0 cents per litre to 182.8 by month’s end. In contrast, retail diesel prices increased the most in Thunder Bay, Ontario, rising 4.8 cents per litre over the month to 175.2. Retail diesel prices in Canada ended July the lowest in Sarnia, Ontario, at 151.2 cents per litre and the highest in Whitehorse, Yukon, at 194.9 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/