Yahoo Finance Gas prices: One Ontario city sees double-digit drop in prices this week
Gas prices were little-changed across Canada this week, but Sarnia was the outlier, shaking things up with double-digit decline at the pump. After a six-cent jump in prices last week, the Ontario city more than retrenched those gains with a drop of 10.3 cents per litre to 143.4 cents, its lowest gas price this month.
Prices in Gatineau, Que. were the biggest gainer of the week, adding 6.8 cents to $1.634. The lowest prices in the country were seen in Lloydminster, Alta., with gas at 134.8 cents per litre.
According to gas station prices from more than 70 cities compiled by data firm Kalibrate, the average retail cost of regular gasoline edged up 0.2 cents per litre between Oct. 19 and Oct. 26 to $1.574.
Earlier this week, the Bank of Canada said in its quarterly Monetary Policy Report (MPR) that higher oil prices have boosted energy price inflation, especially for gasoline. The bank left its benchmark interest rate unchanged on Wednesday, pointing to growing evidence that appears to show hikes are having their intended cooling effect on the economy. However, it raised its forecast for West Texas Intermediate and Western Canadian Select by US$10 per barrel compared to July.
"So far, the war in Israel and Gaza has not impacted the supply of oil. However, if it were to spread further into a broader regional conflict, global oil supplies could be disrupted and oil prices would rise," the Bank of Canada wrote in its report.
"Price increases could be amplified because current global inventories of oil are low. If such a rise in oil prices materializes and is sustained, pass-through to other prices may occur. Inflation could climb sharply, particularly in a context in which businesses change prices frequently."
Stateside, analysts are calling for average gasoline prices to fall up to nine per cent by year’s end.
While prices have fallen in 2023, a U.S.-focused survey by GasBuddy found 78 per cent of respondents feel like they’re spending more on gas this year. One third (33 per cent) said they would prefer a free tank of gas over having a free dinner.
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
LOCATION | Oct. 19 | Oct. 26 | Price change |
Canada Average (V) | 157.2 | 157.4 | 0.2 |
WHITEHORSE | 189.9 | 189.9 | 0 |
VANCOUVER* | 180 | 178.7 | -1.3 |
VICTORIA | 187.8 | 185.2 | -2.6 |
PRINCE GEORGE | 164.8 | 163.9 | -0.9 |
KAMLOOPS | 170.9 | 169.2 | -1.7 |
KELOWNA | 172 | 169.5 | -2.5 |
FORT ST. JOHN | 164.5 | 164.5 | 0 |
ABBOTSFORD | 164.2 | 169.5 | 5.3 |
YELLOWKNIFE | 168.9 | 168.9 | 0 |
CALGARY* | 136.7 | 135.3 | -1.4 |
RED DEER | 136.9 | 136.9 | 0 |
EDMONTON | 138.1 | 137 | -1.1 |
LETHBRIDGE | 146.8 | 143.3 | -3.5 |
LLOYDMINSTER | 135.7 | 134.8 | -0.9 |
GRANDE PRAIRIE | 141.9 | 141.9 | 0 |
REGINA* | 155.8 | 155.4 | -0.4 |
SASKATOON | 149.7 | 150.2 | 0.5 |
PRINCE ALBERT | 150.8 | 149.9 | -0.9 |
MOOSE JAW | 155.9 | 155.9 | 0 |
WINNIPEG * | 155.5 | 152.9 | -2.6 |
BRANDON | 155.9 | 155.9 | 0 |
CITY OF TORONTO* | 152.5 | 153.9 | 1.4 |
BRAMPTON | 152.7 | 153.5 | 0.8 |
ETOBICOKE | 152.5 | 153.9 | 1.4 |
MISSISSAUGA | 151.8 | 153.2 | 1.4 |
NORTH YORK | 152.5 | 153.5 | 1 |
SCARBOROUGH | 152.3 | 153.8 | 1.5 |
VAUGHAN/MARKHAM | 152.7 | 153.5 | 0.8 |
OTTAWA | 152.6 | 152.6 | 0 |
KINGSTON | 147.9 | 152 | 4.1 |
PETERBOROUGH | 147.5 | 151.4 | 3.9 |
WINDSOR | 151.9 | 152.7 | 0.8 |
LONDON | 152.1 | 153.5 | 1.4 |
SUDBURY | 156.3 | 156.9 | 0.6 |
SAULT STE MARIE | 159.9 | 159.9 | 0 |
THUNDER BAY | 153.9 | 154.8 | 0.9 |
NORTH BAY | 158.9 | 161.2 | 2.3 |
TIMMINS | 161.7 | 161.3 | -0.4 |
HAMILTON | 150.3 | 152.7 | 2.4 |
ST. CATHARINES | 150.6 | 150.4 | -0.2 |
BARRIE | 151.8 | 152.7 | 0.9 |
BRANTFORD | 150.8 | 151 | 0.2 |
GUELPH | 152.6 | 152.5 | -0.1 |
KITCHENER | 152.8 | 153.8 | 1 |
OSHAWA | 152.6 | 153.5 | 0.9 |
SARNIA | 153.7 | 143.4 | -10.3 |
MONTRÉAL* | 165.2 | 165.9 | 0.7 |
QUÉBEC | 169.9 | 174.4 | 4.5 |
SHERBROOKE | 168.9 | 168 | -0.9 |
GASPÉ | 176.4 | 175.4 | -1 |
CHICOUTIMI | 156.5 | 151 | -5.5 |
RIMOUSKI | 169.4 | 169.6 | 0.2 |
TROIS RIVIÈRES | 169.4 | 173.2 | 3.8 |
DRUMMONDVILLE | 167.1 | 170.7 | 3.6 |
VAL D'OR | 171.6 | 164.6 | -7 |
GATINEAU | 156.6 | 163.4 | 6.8 |
SAINT JOHN* | 163.1 | 160.1 | -3 |
FREDERICTON | 163.7 | 160.6 | -3.1 |
MONCTON | 163.9 | 161.1 | -2.8 |
BATHURST | 163.9 | 161 | -2.9 |
EDMUNDSTON | 163.5 | 160.7 | -2.8 |
MIRAMICHI | 165.2 | 162.1 | -3.1 |
CAMPBELLTON | 161.9 | 161.9 | 0 |
SUSSEX | 162 | 158.9 | -3.1 |
WOODSTOCK | 165.1 | 162.1 | -3 |
HALIFAX* | 161.7 | 164.4 | 2.7 |
SYDNEY | 163.6 | 166.3 | 2.7 |
YARMOUTH | 162.7 | 165.4 | 2.7 |
TRURO | 162.8 | 165.5 | 2.7 |
KENTVILLE | 162.3 | 164.9 | 2.6 |
NEW GLASGOW | 162.8 | 165.5 | 2.7 |
CHARLOTTETOWN* | 162 | 164.4 | 2.4 |
ST JOHNS* | 167.9 | 172.2 | 4.3 |
GANDER | 170.5 | 174.7 | 4.2 |
LABRADOR CITY | 174.5 | 178.8 | 4.3 |
CORNER BROOK | 168.7 | 172.9 | 4.2 |
GRAND FALLS | 170.5 | 174.7 | 4.2 |
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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