March 2023 Canadian Petroleum Price Snapshot

Gasoline

The average Canadian retail unleaded price ended the month at 154.5 cents per litre, up 4.4 cents per litre higher than the end of February. Most regions in Canada experienced an increase in retail gasoline prices, with the most significant increase occurring in the Prairie Provinces as prices rose roughly ten cents per litre. In contrast, prices along the West Coast of Canada fell, declining nearly three cents per litre. The U.S. Energy Information Administration’s weekly petroleum report shows North American gasoline inventories declined 6.9 percent in March, while demand was up 2.0 percent.

Retail gasoline prices rose 4.4cpl to 154.5 in March.

Diesel

Retail diesel fuel prices in Canada continued to decline in March. After falling 20.7 cents per litre in February, March prices declined a further 7.4 cents per litre to 164.0. Besides the province of Newfoundland, which experienced a modest increase in diesel prices in March, all other regions saw prices decline. The most significant decline was experienced in Quebec, falling over fifteen cents per litre. The U.S. Energy Information Administration’s weekly petroleum report showed distillate inventories declined in March 7.4 percent, mostly in PADD 1 (the East Coast).  Although year-over-year demand for distillates was lower in March, distillate demand ended the month 10.6 percent higher than the end of February. Consequently, April will likely see an end to declining diesel prices in Canada.

Retail diesel prices fell 7.4cpl to 164.0 in March.

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/