March 2024. Kalibrate's Canadian Petroleum Price Snapshot

Gasoline

March retail gasoline prices rose 8.7 cpl to 165.8

Retail gasoline prices in Canada climbed in March, rising 8.7 cents per litre over the month.

Tensions abroad, most recently from Ukrainian drone attacks on Russian refinery infrastructure, contributed to rising crude oil prices and higher retail gasoline prices in March. Refinery issues plagued several North American areas regions this past month, leading to reduced gasoline production when seasonal demand began to pick up and also contributed to higher retail prices.

Gas prices reached their highest level this year in late March – a six-month high. Retail gasoline prices rose in all areas of the country this past month, with the most significant increase occurring in Calgary, Alberta, where prices rose 15.0 cents per litre to 154.9 by the month’s end.

Overall, retail gasoline prices ended March the lowest in Winnipeg, Manitoba, at 139.0 cents per litre, and were the most expensive in Vancouver, British Columbia, at 204.1 cents per litre.

Diesel

March retail diesel prices fell 1.9 cpl to169.9

In March, retail diesel prices in Canada fell 1.9 cents per litre. Most markets in Canada experienced little change in retail diesel prices in March except New Brunswick and Prince Edward Island, where prices were down 14.7 and 7.5 cents per lire, respectively. The East Coast relies more on distillate fuels for home heating than other parts of the country. Lower home heating demand is likely the main factor in lower diesel fuel prices along the East Coast, despite rising crude oil prices in March. Retail diesel prices fell the most in Edmundston, New Brunswick, down 15.7 cents per litre to 187.4. Diesel prices rose the most in March in Val d’Or, Québec, up 6.8 cents per litre to end the month at 192.7. Overall, retail diesel prices ended March the lowest in Brandon, Manitoba, at 154.9 cents per litre, and were the most expensive in Labrador City, Newfoundland, at 212.0 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/