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Fuel prices drop in some Canadian cities, rise in others

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Fuel Prices,Canada,Inflation

The average cost per litre of regular fuel fell in the Greater Toronto Area, as well as Guelph, Ont., Sudbury, Ont., and North Bay, Ont. The largest decline in the country was in Gatineau, Que., where prices fell by 7.6 cents per litre. It was a different story in Victoria, B.C. where prices climbed 11.6 cents per litre between Feb. 15 and Feb. 22 to $1.769 per litre. According to data firm Kalibrate, the nationwide average price fell 1.6 cents to $1.536. Statistics Canada says lower year-over-year prices for gasoline pushed Canada’s annual rate of inflation down "Year over year, gasoline prices fell 4.0 per cent in January following a 1.4 per cent increase in December, largely due to a base-year effect,". "In January 2023, prices at the pump increased amid refinery closures in the southwestern United States following Winter Storm Elliott." Meanwhile, new data suggest Canadian auto sales are recovering from the pandemic-driven slump. According to DesRosiers Automotive Consultants, all Canadian provinces saw significant growth in new light vehicle sales in January

The average cost per litre of regular fuel fell in the Greater Toronto Area, as well as Guelph, Ont., Sudbury, Ont., and North Bay, Ont. The largest decline in the country was in Gatineau, Que., where prices fell by 7.6 cents per litre. It was a different story in Victoria, B.C. where prices climbed 11.6 cents per litre between Feb. 15 and Feb. 22 to $1.769 per litre. According to data firm Kalibrate, the nationwide average price fell 1.6 cents to $1.536.

Statistics Canada says lower year-over-year prices for gasoline pushed Canada’s annual rate of inflation down "Year over year, gasoline prices fell 4.0 per cent in January following a 1.4 per cent increase in December, largely due to a base-year effect,". "In January 2023, prices at the pump increased amid refinery closures in the southwestern United States following Winter Storm Elliott." Meanwhile, new data suggest Canadian auto sales are recovering from the pandemic-driven slump. According to DesRosiers Automotive Consultants, all Canadian provinces saw significant growth in new light vehicle sales in Januar

Source: Car News Wire (carnewswire.net)

Fuel Prices Canada Inflation Auto Sales Pandemic

 

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