November 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.

November 2023 Canadian Petroleum Fuel Price Snapshot mobile image

December 11, 2023|2 minutes

Gasoline

November retail gasoline prices fell 6.1 cpl to 152.5

Retail gasoline prices in Canada fell 6.1 cents per litre in November from the end of October. After peaking in August, Canadian gasoline prices have consistently declined, reaching their lowest level since March of this year in November.

Much of the decline can be attributed to lower crude oil prices, down 6.7 cents per litre over the month in Canada.After crude prices peaked in late September, prices have fallen upon lower refinery demand as many refineries in North America underwent maintenance and upon increased crude oil production. U.S. crude oil production reached an all-time high in October and maintained levels throughout November (Energy Information Administration). Thus, all Canadian provinces experienced a decline in retail gasoline prices, with the biggest drop occurring in Ontario at 7.2 cents per litre.

Diesel

November retail diesel prices fell 3.9 cpl to 182.1

Retail diesel prices in Canada also declined in November, falling 3.9 cents per litre from the end of October. Like gasoline prices, diesel prices fell upon lower crude oil prices. However, falling retail diesel prices were mitigated by consistently low inventories, particularly along the East Coast. The Energy Information Administration reported that U.S. distillate stocks fell from October levels and were 20.9 percent lower in November compared to the previous 10-year average for the month. As a result, there were regional differences in retail diesel price movements in November, with wholesale diesel prices rising in Ontario, Quebec and Atlantic Canada over the month. On average, in November, retail diesel prices in Atlantic Canada were nearly twenty cents per litre above the Canadian average.

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/