Gasoline:
Retail gasoline prices increased 41.1 cents per litre to 182.9 in March
In March, gasoline prices in Canada rose a substantial 41.1 cents per litre, ending the month at 182.9 cents per litre. The outbreak of war in the Middle East at the end of February, which has closed the Strait of Hormuz, has caused major supply disruptions. The Strait handles about 20 percent of the world’s daily crude oil flow. As a result, crude oil prices surged in March, with the crude input price at Canadian refineries increasing roughly 65% over the month. In 2025, the crude oil component of the retail pump price accounted for roughly 40%. By the end of March, this had increased to over 50% of the retail pump price, as the crude component rose 37.9 cents per litre. Higher pump prices also lead to increased taxes on petroleum products, as a portion of the tax is percentage-based. Increased taxes account for nearly four cents per litre of the total rise in retail gasoline prices observed in March. Retail prices reached their highest levels in March since July 2022.
In March, all surveyed markets experienced increases in retail gasoline prices over the month, ranging from 27.0 cents per litre in Regina, Saskatchewan, to 50.9 cents per litre in Sarnia, Ontario. Overall, pump prices ended the month the highest in Vancouver, British Columbia, at 217.0 cents per litre, more than 34 cents above the Canadian average. In Lloydminster, Alberta/Saskatchewan, retail gasoline prices were lowest at the end of March, at 157.4, more than 25 cents below the Canadian average.
Diesel:
Retail diesel prices increased 67.4 cents per litre to 236.7 in March
Retail diesel prices saw larger increases than gasoline in March, rising 67.4 cents per litre to finish the month at 236.7 cents per litre. Several factors likely contributed to a larger rise in diesel prices than in gasoline prices. One reason is seasonal demand trends. Home heating fuel, which is very similar to diesel fuel, is just exiting the winter heating season, with North American inventories at seasonal lows. Additionally, the closure of the Strait of Hormuz has had a greater impact on distillate flows that European countries rely on. As a result of the supply crunch, diesel rack prices have increased more than crude oil prices amid the conflict. Diesel rack prices have risen 60.1 cents per litre in March, with distillate crack spreads reaching levels not seen since 2022. Daily retail diesel prices hit an all-time high in our survey on March 23 at 239.1 cents per litre, surpassing the previous record on October 19, 2022, at 234.2 cents per litre.
Diesel price increases in March ranged from 38.8 cents per litre in Fort St. John, British Columbia, to 82.5 cents per litre in Vancouver, British Columbia. Overall, retail diesel prices finished March at their highest in Labrador City, Newfoundland, at 270.1 cents per litre, more than 33 cents above the Canadian average. The lowest retail diesel prices in Canada at the end of March were found in Lloydminster, Alberta/Saskatchewan, at 187.9 cents per litre, nearly 49 cents below 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: Charting.kalibrate.com/
