Yahoo Finance Gas prices sink in Canada as expert calls for a month of falling prices
Gas prices plunged across Canada this week, with Saskatchewan leading the nation’s declines, and only a handful of Ontario cities booking gains at the pump. According to prices from more than 70 cities compiled by data firm Kalibrate, the average retail cost of regular gasoline fell 4.8 cents per litre to $1.444 between Dec. 7 and Dec. 14. Slowing seasonal demand and swelling inventories continue to push prices lower for drivers.
Saskatoon saw the biggest decline over the past seven days, with a 10 cent drop. Regina and Prince Albert followed suit with respective eight cent declines. Fort St. John, B.C. stood out on the west coast with a 9.2 cent drop. Peterborough, Ont., Sudbury, Ont., and Sarnia, Ont. were the only cities where regular gasoline prices pushed higher.
Gas prices could continue falling for at least a month, according to one U.S. analyst. Tom Kloza, global head of energy analysis at OPIS, is calling for average prices south of the border to dip below US$3 per gallon.
“I think the die has been cast for prices over the next 30 to 45 days," he told Yahoo Finance on Wednesday. “We'll move beneath the December 2022 low of US$3.0961 per gallon over the weekend, and the next stop will be just under US$3 per gallon.”
Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.
(All figures in CAD cents)
Location | Dec. 7 | Dec. 14 | Price change |
Canada Average (V) | 149.2 | 144.4 | -4.8 |
WHITEHORSE | 179.9 | 179.9 | 0 |
VANCOUVER* | 174.1 | 171.3 | -2.8 |
VICTORIA | 172.9 | 172.9 | 0 |
PRINCE GEORGE | 157.6 | 155.6 | -2 |
KAMLOOPS | 162.3 | 157.8 | -4.5 |
KELOWNA | 159.6 | 156.9 | -2.7 |
FORT ST. JOHN | 162.9 | 153.7 | -9.2 |
ABBOTSFORD | 157 | 152.7 | -4.3 |
YELLOWKNIFE | 164.9 | 163.9 | -1 |
CALGARY* | 123.7 | 119.4 | -4.3 |
RED DEER | 128.7 | 124.4 | -4.3 |
EDMONTON | 126.2 | 122.7 | -3.5 |
LETHBRIDGE | 134.3 | 128.9 | -5.4 |
LLOYDMINSTER | 127 | 120.9 | -6.1 |
GRANDE PRAIRIE | 134.9 | 130.9 | -4 |
REGINA* | 143.8 | 135.8 | -8 |
SASKATOON | 137.8 | 129.8 | -8 |
PRINCE ALBERT | 143.9 | 133.9 | -10 |
MOOSE JAW | 145.9 | 138.9 | -7 |
WINNIPEG * | 138.9 | 138.1 | -0.8 |
BRANDON | 145.9 | 138.2 | -7.7 |
CITY OF TORONTO* | 144.8 | 139.7 | -5.1 |
BRAMPTON | 143.1 | 137.9 | -5.2 |
ETOBICOKE | 144.8 | 139.8 | -5 |
MISSISSAUGA | 143.8 | 138.9 | -4.9 |
NORTH YORK | 144.8 | 139.8 | -5 |
SCARBOROUGH | 144.3 | 139.4 | -4.9 |
VAUGHAN/MARKHAM | 144.8 | 139.9 | -4.9 |
OTTAWA | 144.7 | 138.7 | -6 |
KINGSTON | 138.9 | 134.1 | -4.8 |
PETERBOROUGH | 132.4 | 136 | 3.6 |
WINDSOR | 143.9 | 138.8 | -5.1 |
LONDON | 145.2 | 139.9 | -5.3 |
SUDBURY | 143.9 | 147.7 | 3.8 |
SAULT STE MARIE | 149.9 | 148.9 | -1 |
THUNDER BAY | 138.4 | 137.9 | -0.5 |
NORTH BAY | 148.4 | 144.6 | -3.8 |
TIMMINS | 156.6 | 154.5 | -2.1 |
HAMILTON | 143 | 138.2 | -4.8 |
ST. CATHARINES | 139.5 | 134.4 | -5.1 |
BARRIE | 143.9 | 139.2 | -4.7 |
BRANTFORD | 142.7 | 137.4 | -5.3 |
GUELPH | 144.6 | 139.9 | -4.7 |
KITCHENER | 144.8 | 139.8 | -5 |
OSHAWA | 142.8 | 137.4 | -5.4 |
SARNIA | 138.4 | 140.8 | 2.4 |
MONTRÉAL* | 159.2 | 153.6 | -5.6 |
QUÉBEC | 164.3 | 161.5 | -2.8 |
SHERBROOKE | 161.3 | 156.8 | -4.5 |
GASPÉ | 168.1 | 161.6 | -6.5 |
CHICOUTIMI | 146.1 | 144.8 | -1.3 |
RIMOUSKI | 163.4 | 163.4 | 0 |
TROIS RIVIÈRES | 163.4 | 159.9 | -3.5 |
DRUMMONDVILLE | 160.7 | 154.9 | -5.8 |
VAL D'OR | 159.7 | 156.6 | -3.1 |
GATINEAU | 146.8 | 145 | -1.8 |
SAINT JOHN* | 160.2 | 155.5 | -4.7 |
FREDERICTON | 160.6 | 155.9 | -4.7 |
MONCTON | 160.9 | 156.3 | -4.6 |
BATHURST | 160.9 | 156.1 | -4.8 |
EDMUNDSTON | 160.1 | 155.6 | -4.5 |
MIRAMICHI | 162.1 | 157 | -5.1 |
CAMPBELLTON | 161.9 | 157.3 | -4.6 |
SUSSEX | 159.8 | 155.4 | -4.4 |
WOODSTOCK | 162 | 157.2 | -4.8 |
HALIFAX* | 160.3 | 153.9 | -6.4 |
SYDNEY | 162.2 | 155.8 | -6.4 |
YARMOUTH | 161.3 | 154.9 | -6.4 |
TRURO | 161.4 | 155 | -6.4 |
KENTVILLE | 160.8 | 154.5 | -6.3 |
NEW GLASGOW | 161.4 | 155 | -6.4 |
CHARLOTTETOWN* | 162.6 | 158 | -4.6 |
ST JOHNS* | 164.9 | 159.4 | -5.5 |
GANDER | 167.5 | 161.9 | -5.6 |
LABRADOR CITY | 171.6 | 166 | -5.6 |
CORNER BROOK | 165.7 | 160 | -5.7 |
GRAND FALLS | 167.5 | 161.9 | -5.6 |
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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