October 2023 Canadian Petroleum Price Snapshot
October retail gasoline prices fell 10.6 cpl to 158.6
Retail gasoline prices in Canada fell 10.6 cents per litre in October from the end of September. Tapering demand and ample gasoline inventories in North America led to a decline in wholesale gasoline prices, leading to lower retail prices.
Canadian gasoline wholesale prices fell 7.8 cents per litre from the end of September, with the most noticeable decline along the Canadian West Coast, where wholesale gasoline prices fell 31.3 cents per litre over the month. Consequently, some cities experienced a significant decline in retail gasoline prices, such as Vancouver, where retail gasoline prices fell 34.0 cents per litre over the month, and Abbotsford, where prices fell 35.8 cents per litre.
October retail diesel prices fell 4.8 cpl to 186.0
Retail diesel prices in Canada declined in October, falling 4.8 cents per litre from the end of September. Most of the decline in retail diesel prices was attributable to lower crude oil prices in Canada, which fell 8.2 cents per litre over the month. Crude prices experienced significant volatility in October, pushed higher with increased geopolitical concerns abroad, and pressed lower due to weakening demand worries. Although North American distillate inventories rose over October, inventories in the U.S. were 13.4 percent lower than the previous ten-year average for October (EIA). Consequently, Canadian diesel refining margins changed little in October, rising one cent per litre from the end of September, curbing any further declines in retail diesel prices from falling crude oil prices.
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/
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