March 2025. Kalibrate's Canadian Petroleum Price Snapshot

Gasoline

Although there were some regional variations, Canadian retail gasoline prices generally rose in March, rising 7.6 cents per litre to end March at 163.9. Retail gasoline prices fell to the lowest level this year mid-month before climbing during the second half of March.

Crude prices fell in early March as the Organization of Petroleum Exporting Countries and Allies (OPEC+) announced a rollback of voluntary crude oil production limits starting in April. However, crude oil prices strengthened during the second half of the month as markets reacted to various policy announcements from the U.S. government concerning sanctions and targeted tariffs, leading to higher retail gasoline prices. Seasonal factors also likely contributed to higher retail gasoline prices in March as several North American refineries were under maintenance, limiting the production of petroleum products at a time when demand picks up following the end of winter.

The largest gasoline price increase in Canada was observed in Vancouver, British Columbia, where retail prices rose 16.1 cents per litre over the month, ending March at 197.0, the highest price in Canada. Refinery issues south of the border along the U.S. West Coast were likely a factor in rising retail pump prices in Vancouver near the end of March. In contrast, prices in Sarnia, Ontario, fell 9.7 cents per litre over the month to 139.3. However, prices ended March the lowest in Brandon, Manitoba, at 136.4 cents per litre.

It is worth noting that since the end of March, retail gasoline prices have declined significantly in most markets. There are two factors contributing to the steep decline in prices observed. One has to do with the removal of carbon taxes in most provinces. This equates to a nearly eighteen cent per litre drop plus HST/GST. Additionally, markets have been reacting to sweeping tariffs announced by the U.S. government in early April. Worries that the global economy may enter a recession have led to a significant decline in crude oil prices. Since the end of March, WTI, the North American crude oil benchmark, declined from $71.48 US/BBL to $60.57 US/BBL by the end of last week.

Diesel

Retail diesel prices fell in early March and remained flat during the remainder of the month despite rising crude oil prices, ending March at 171.9 cents per litre, 4.7 cents lower than the end of February. North American distillate fuel demand fell in March, coinciding with the end of the winter heating season and led to declining diesel prices. The steepest decline was observed in Quebec, where the average diesel price fell 10.9 cents per litre. This was closely followed by declining prices observed in Atlantic Canada, where the average price decreased from 6.3 cents per litre in Newfoundland to as much as 8.0 cents per litre in New Brunswick.

Diesel prices in Drummondville, Quebec, declined the most in March, falling 14.5 cents per litre to end the month at 173.4. Overall, diesel prices ended the month the lowest in Brantford, Ontario, where prices fell 12.2 cents per litre in March to 152.3. In contrast, diesel prices increased modestly in March in Victoria, British Columbia, rising 0.7 cents per litre to end the month at 185.6. And despite a decline of 6.3 cents per litre in March, diesel prices ended the month the highest in Grand Falls, Newfoundland, at 198.7.

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: Charting.kalibrate.com/