Gas prices in Canada can be a major expense, especially for those who commute long distances or have large families. That’s why we’re committed to providing you with the most accurate and up-to-date information on gas prices in Canada.
Our team of experts constantly monitors gas prices across the country, so you can be sure that you’re always getting the best deal. We also use a variety of factors to predict future gas prices, so you can plan your trips accordingly.
Whether you’re a frequent traveler or just looking to save money on your next fill-up or asking what are today’s price of Gas in Canada, Gas Prices Canada is the perfect resource for you.
What are Gas Prices in Canada Today? May 12, 2024
Canada Gas Prices have been on the rise in recent months, due to a number of factors including the war in Ukraine, supply chain disruptions, and increased demand.
As of May 12, 2024, the average price of regular gasoline in Canada is 153.59 cents per litre. Premium gasoline is slightly more expensive, at 164.15 cents per litre. Diesel prices are also high, at 162.97 cents per litre.
Here are the average gas prices in Canada by Province for today, May 12, 2024.
| Province | Regular Gas Price | Premium Gas Price | Diesel Gas Price |
|---|---|---|---|
| Alberta | 133.5 | 145.2 | 145.1 |
| British Columbia | 163.4 | 176 | 167 |
| Manitoba | 131.5 | 149 | 149 |
| New Brunswick | 162 | 166.3 | 165.2 |
| Newfoundland and Labrador | 170.2 | 176.7 | 176.6 |
| Northwest Territories | 157.9 | 169.1 | 169.1 |
| Nova Scotia | 164.1 | 171.5 | 169.5 |
| Ontario | 146.2 | 159.9 | 159.4 |
| Prince Edward Island | 163.8 | 173.4 | 173.3 |
| Quebec | 159.3 | 173.1 | 173 |
| Saskatchewan | 137.6 | 145.5 | 145.5 |
FAQ
Why are gas prices so high in Canada?
The high cost of gas is putting a strain on household budgets and businesses across Canada. The Canadian Automobile Association (CAA) estimates that the average Canadian household will spend an extra $1,350 on gas this year. This is a significant financial burden for many families, especially those who live in rural areas where public transportation is limited.
The high cost of gas is also having a negative impact on the economy. Businesses that rely on transportation, such as the trucking and shipping industries, are facing higher costs. This is leading to higher prices for consumers and could lead to job losses.
There are a number of reasons why gas prices are so high in Canada today. These include:
- Increased demand: The global economy is recovering from the COVID-19 pandemic, and people are starting to travel and drive more. This has increased demand for gasoline, which has pushed up prices.
- Supply disruptions: There have been a number of supply disruptions in the global oil market in recent months. These include the war in Ukraine, which has disrupted Russian oil exports, and hurricanes in the Gulf of Mexico, which have disrupted US oil production. These disruptions have also contributed to higher gas prices.
- Speculative trading: Oil prices are also affected by speculative trading. This is when investors buy and sell oil futures contracts, which are contracts to buy or sell oil at a set price in the future. Speculative trading can drive up or down oil prices, even if there is no change in the underlying supply or demand for oil.
- Government policies: Government policies can also affect gas prices. For example, taxes on gasoline can add to the cost of fuel. In Canada, the federal government taxes gasoline at 10 cents per litre, and provinces and territories also add their own taxes.
Which Province has the most expensive Gas in Canada today?
As of May 12, 2024, The province with the most expensive gas in Canada is Newfoundland and Labrador, with an average price of 170.2 cents per litre.
Which Province has the cheapest Gas in Canada today?
As of May 12, 2024, The province with the cheapest gas in Canada is Manitoba, with an average price of 131.5 cents per litre.
Is Gas Cheaper in the US or Canada?
Gas is generally cheaper in the US than in Canada. This difference is due to a number of factors, including taxes, exchange rates, and competition.
- Taxes: The US has lower gasoline taxes than Canada. In the US, the federal gasoline tax is 18.4 cents per gallon, while in Canada it is 13.4 cents per liter (which is equivalent to 55.3 cents per gallon).
- Exchange rates: The Canadian dollar is currently weaker than the US dollar. This means that a gallon of gas in Canada costs more in Canadian dollars than it does in US dollars.
- Competition: There is more competition in the US gasoline market than in the Canadian gasoline market. This competition helps to keep prices down.
It is important to note that gas prices can vary significantly from state to state and province to province.
What are the best ways to save money on gas?
Here are some tips for saving money on gas:
- Drive less: The best way to save money on gas is to drive less. If you can walk, bike, or take public transportation instead of driving, you will save money on gas and help the environment.
- Combine errands: When you do need to drive, try to combine errands into one trip. This will save you gas and time.
- Carpool: If you have to drive to work or school, consider carpooling with a friend or coworker. This will save you both money on gas.
- Use public transportation: If you live in a city with public transportation, consider using it instead of driving. This will save you money on gas and parking.
- Buy a fuel-efficient car: If you need to buy a new car, consider buying a fuel-efficient car. This will save you money on gas in the long run.
- Shop around for the best gas prices: Gas prices can vary from station to station. Shop around for the best gas prices in your area.
By following these tips, you can save money on gas and help the environment.
What are the future trends for gas prices in Canada?
Please Visit Gas prices Tomorrow page to get the tomorrow’s gas price forecast today in Canada.