Yahoo Finance Gas prices: Expert calls for smaller summer spike at the pumps
Gas prices reversed course this week, rising 3.5 cents per litre of regular fuel on average across Canada over the past seven days. According to data firm Kalibrate, the nationwide average price rose to $1.571 as of Feb. 29. Last week, prices dipped 1.6 cents per litre to $1.536.
British Columbia, the Prairies, and Ontario saw steady increases, while Quebec, and the Maritimes experienced slightly lower prices. Drivers in Winnipeg, and Brandon, Man. paid the lowest rate on Feb. 29, at $1.339 per litre. Vancouver topped the list at $1.901 per litre.
Prince George, B.C. booked the biggest gain this week, with prices climbing by 11 cents. Sarnia, Ont. saw the biggest weekly price drop at 9.9 cents.
“This is the time of year when we tend to see more bumps in the road ahead with rising gas prices, all of that really due to the seasonal ups and downs,” GasBuddy head of petroleum analysis Patrick De Haan told Yahoo Finance Live on Thursday.
He says refinery maintenance, a costlier summer version of gasoline coming into stations, and rising demand, set the stage for higher prices.
However, De Haan predicts this summer's price spike at the pumps won't be as big as recent years.
"That's because some of the imbalances like COVID and Russia's war in Ukraine have faded to the rear view" he said. "Inflation is still running higher than expectations. And that's keeping pressure on gas prices. But it's not going to be the worst summer to hit the road."
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
Location | Feb. 22 | Feb. 29 | Price change |
Canada Average (V) | 153.6 | 157.1 | 3.5 |
WHITEHORSE | 169.9 | 169.9 | 0 |
VANCOUVER* | 178.8 | 190.1 | 11.3 |
VICTORIA | 176.9 | 184.9 | 8 |
PRINCE GEORGE | 146.6 | 158.6 | 12 |
KAMLOOPS | 159.9 | 166 | 6.1 |
KELOWNA | 159.7 | 167.7 | 8 |
FORT ST. JOHN | 157.4 | 158.7 | 1.3 |
ABBOTSFORD | 170.5 | 175.9 | 5.4 |
YELLOWKNIFE | 156.9 | 156.9 | 0 |
CALGARY* | 135.8 | 139.9 | 4.1 |
RED DEER | 134.9 | 137.9 | 3 |
EDMONTON | 130 | 137.7 | 7.7 |
LETHBRIDGE | 136.6 | 137.8 | 1.2 |
LLOYDMINSTER | 134.8 | 137.9 | 3.1 |
GRANDE PRAIRIE | 138.3 | 138.3 | 0 |
REGINA* | 139.4 | 147.3 | 7.9 |
SASKATOON | 139.9 | 149.9 | 10 |
PRINCE ALBERT | 139.9 | 147 | 7.1 |
MOOSE JAW | 138.9 | 149.9 | 11 |
WINNIPEG * | 125.3 | 133.9 | 8.6 |
BRANDON | 125.2 | 133.9 | 8.7 |
CITY OF TORONTO* | 148.4 | 149.9 | 1.5 |
BRAMPTON | 148.5 | 150.1 | 1.6 |
ETOBICOKE | 148.4 | 149.4 | 1 |
MISSISSAUGA | 147.6 | 148.9 | 1.3 |
NORTH YORK | 148.6 | 149.9 | 1.3 |
SCARBOROUGH | 148.4 | 149.8 | 1.4 |
VAUGHAN/MARKHAM | 148.8 | 150.1 | 1.3 |
OTTAWA | 148.7 | 149.7 | 1 |
KINGSTON | 148 | 145.9 | -2.1 |
PETERBOROUGH | 144.4 | 137.8 | -6.6 |
WINDSOR | 147.8 | 148.8 | 1 |
LONDON | 148 | 150.3 | 2.3 |
SUDBURY | 153.1 | 155.3 | 2.2 |
SAULT STE MARIE | 149.6 | 149.6 | 0 |
THUNDER BAY | 152.4 | 158 | 5.6 |
NORTH BAY | 148.7 | 149.6 | 0.9 |
TIMMINS | 158.1 | 157.7 | -0.4 |
HAMILTON | 147.5 | 147.2 | -0.3 |
ST. CATHARINES | 147.4 | 147.1 | -0.3 |
BARRIE | 147.8 | 149.2 | 1.4 |
BRANTFORD | 147.1 | 146 | -1.1 |
GUELPH | 148.7 | 150.4 | 1.7 |
KITCHENER | 148.6 | 149.6 | 1 |
OSHAWA | 148.8 | 150 | 1.2 |
SARNIA | 146.7 | 136.8 | -9.9 |
MONTRÉAL* | 164.7 | 165.9 | 1.2 |
QUÉBEC | 164.1 | 162 | -2.1 |
SHERBROOKE | 159 | 157 | -2 |
GASPÉ | 169.6 | 169.6 | 0 |
CHICOUTIMI | 148.8 | 146.5 | -2.3 |
RIMOUSKI | 167.4 | 163.4 | -4 |
TROIS RIVIÈRES | 160.5 | 158.9 | -1.6 |
DRUMMONDVILLE | 157.9 | 157.9 | 0 |
VAL D'OR | 163.7 | 163.6 | -0.1 |
GATINEAU | 151.6 | 147.5 | -4.1 |
SAINT JOHN* | 161 | 161.5 | 0.5 |
FREDERICTON | 161.5 | 161.9 | 0.4 |
MONCTON | 161.7 | 162.1 | 0.4 |
BATHURST | 161.8 | 161.7 | -0.1 |
EDMUNDSTON | 161.1 | 161.4 | 0.3 |
MIRAMICHI | 162.9 | 163.2 | 0.3 |
CAMPBELLTON | 162.8 | 163.3 | 0.5 |
SUSSEX | 161.3 | 161.4 | 0.1 |
WOODSTOCK | 162.8 | 163.2 | 0.4 |
HALIFAX* | 163.6 | 161.2 | -2.4 |
SYDNEY | 165.6 | 163.2 | -2.4 |
YARMOUTH | 164.7 | 162.3 | -2.4 |
TRURO | 164.8 | 162.4 | -2.4 |
KENTVILLE | 164.2 | 161.8 | -2.4 |
NEW GLASGOW | 164.8 | 162.4 | -2.4 |
CHARLOTTETOWN* | 163.4 | 163.4 | 0 |
ST JOHNS* | 171.9 | 171.7 | -0.2 |
GANDER | 174.4 | 173.9 | -0.5 |
LABRADOR CITY | 178.6 | 178.3 | -0.3 |
CORNER BROOK | 172.7 | 172.4 | -0.3 |
GRAND FALLS | 174.5 | 174.2 | -0.3 |
SOURCE: KALIBRATE • All figures in CAD cents
(*) Denotes markets used in Volume Weighted Canada Average
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.
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