Fuel Focus, April 8, 2015
Table of Contents
- National Overview
- Recent Developments
- Retail Gasoline Overview
- Wholesale Gasoline Prices
- Gasoline Refining and Marketing Margins
- Crude Oil Overview
- Download the report
National Overview
Average National Pump Prices Decreased 0.1 Cent per Litre from Last Week
For the week ending March 31, 2015, Canadian average retail gasoline prices declined slightly by 0.1 cent per litre from the previous week to reach an average of $1.07 per litre. This represents an increase of 1.3 cents from the last report two weeks ago. Prices are 26 cents per litre lower than last year at this time.
Diesel fuel prices declined by 1.2 cents per litre to $1.15 per litre, down 27.2 cents from the same period last year. Furnace oil prices decreased by 1.2 cents per litre, ending at $1.12 per litre, a decrease of 17 cents per litre from a year ago.
Figure 1: Crude Oil and Regular Gasoline Price Comparison
(National Average)
Text version
Figure 1
The graph shows prices in cents per litre for gasoline at retail, gasoline excluding taxes, and Canadian Light Sweet and Brent crude oil prices. Gasoline prices ended the period of March 31, 2015, at 107.2 cents per litre, excluding taxes at 69.4 cents per litre, Canadian Light Sweet at 34.9 cents per litre and Brent at 44.6 cents per litre.
Dates | Gasoline at retail | Excluding Taxes | Canadian Light Sweet | Brent crude |
---|---|---|---|---|
09/09/2014 | 133.0 | 93.3 | 61.2 | 69.5 |
16/09/2014 | 129.9 | 90.4 | 60.5 | 68.2 |
23/09/2014 | 129.4 | 90.0 | 61.1 | 68.0 |
30/09/2014 | 130.1 | 90.6 | 60.6 | 67.6 |
07/10/2014 | 128.0 | 88.8 | 60.8 | 66.4 |
14/10/2014 | 123.1 | 84.4 | 58.0 | 64.2 |
21/10/2014 | 121.9 | 83.2 | 54.8 | 60.5 |
28/10/2014 | 118.8 | 80.3 | 53.1 | 60.8 |
04/11/2014 | 117.8 | 79.5 | 51.7 | 60.8 |
11/11/2014 | 119.2 | 80.7 | 49.0 | 59.6 |
18/11/2014 | 116.2 | 78.1 | 47.5 | 57.2 |
25/11/2014 | 114.4 | 76.4 | 47.0 | 56.2 |
02/12/2014 | 112.3 | 74.4 | 45.9 | 54.3 |
09/12/2014 | 107.2 | 69.9 | 42.9 | 50.3 |
16/12/2014 | 101.1 | 64.4 | 41.4 | 49.7 |
23/12/2014 | 99.4 | 62.8 | 35.6 | 44.3 |
30/12/2014 | 98.1 | 61.6 | 35.7 | 44.2 |
06/01/2015 | 95.0 | 58.8 | 33.8 | 42.0 |
13/01/2015 | 91.5 | 55.7 | 30.5 | 38.1 |
20/01/2015 | 91.3 | 55.4 | 29.8 | 35.8 |
27/01/2015 | 92.5 | 56.5 | 30.3 | 37.6 |
03/02/2015 | 96.5 | 60.2 | 30.7 | 39.1 |
10/02/2015 | 101.2 | 64.5 | 34.7 | 44.2 |
17/02/2015 | 103.0 | 66.2 | 35.0 | 45.3 |
24/02/2015 | 103.7 | 66.8 | 35.7 | 47.7 |
03/03/2015 | 112.3 | 74.1 | 35.1 | 44.6 |
10/03/2015 | 108.6 | 70.6 | 35.4 | 47.4 |
17/03/2015 | 105.8 | 68.0 | 33.8 | 45.4 |
24/03/2015 | 107.3 | 69.5 | 31.6 | 43.7 |
31/03/2015 | 107.1 | 69.3 | 34.9 | 44.6 |
Figure 2: Weekly Regular Gasoline Prices
Text version
Figure 2
This graph shows the gasoline price trends from 2013 to 2015.
Date | 2013 Gasoline at Retail | Date | 2014 Gasoline at Retail | Date | 2015 Gasoline at Retail |
---|---|---|---|---|---|
13-01-01 | 118.90 | 14-01-07 | 125.00 | 15-01-06 | 95.00 |
13-01-08 | 120.60 | 14-01-14 | 125.60 | 15-01-13 | 91.50 |
13-01-15 | 118.90 | 14-01-21 | 125.70 | 15-01-20 | 91.30 |
13-01-22 | 119.70 | 14-01-28 | 126.60 | 15-01-27 | 92.50 |
13-01-29 | 123.30 | 14-02-04 | 125.90 | 15-02-03 | 96.50 |
13-02-05 | 129.20 | 14-02-11 | 127.60 | 15-02-10 | 101.20 |
13-02-12 | 127.70 | 14-02-18 | 129.30 | 15-02-17 | 103.00 |
13-02-19 | 130.50 | 14-02-25 | 130.70 | 15-02-24 | 103.70 |
13-02-26 | 131.20 | 14-03-04 | 132.50 | 15-03-03 | 112.30 |
13-03-05 | 131.20 | 14-03-11 | 131.80 | 15-03-10 | 108.60 |
13-03-12 | 129.90 | 14-03-18 | 132.00 | 15-03-17 | 105.80 |
13-03-19 | 130.10 | 14-03-25 | 132.90 | 15-03-24 | 107.30 |
13-03-26 | 129.40 | 14-04-01 | 132.90 | 15-03-31 | 107.10 |
13-04-02 | 128.70 | 14-04-08 | 133.90 | 15-04-07 | |
13-04-09 | 126.50 | 14-04-15 | 136.80 | 15-04-14 | |
13-04-16 | 125.00 | 14-04-22 | 137.70 | 15-04-21 | |
13-04-23 | 125.10 | 14-04-29 | 139.80 | 15-04-28 | |
13-04-30 | 126.30 | 14-05-06 | 136.90 | 15-05-05 | |
13-05-07 | 126.00 | 14-05-13 | 135.70 | 15-05-12 | |
13-05-14 | 129.30 | 14-05-20 | 136.00 | 15-05-19 | |
13-05-21 | 131.40 | 14-05-27 | 136.80 | 15-05-26 | |
13-05-28 | 132.90 | 14-06-03 | 137.40 | 15-06-02 | |
13-06-04 | 131.10 | 14-06-10 | 138.10 | 15-06-09 | |
13-06-11 | 132.90 | 14-06-17 | 138.80 | 15-06-16 | |
13-06-18 | 133.10 | 14-06-24 | 141.20 | 15-06-23 | |
13-06-25 | 130.50 | 14-07-01 | 138.70 | 15-06-30 | |
13-07-02 | 128.30 | 14-07-08 | 137.20 | 15-07-07 | |
13-07-09 | 132.40 | 14-07-15 | 133.80 | 15-07-14 | |
13-07-16 | 134.40 | 14-07-22 | 133.00 | 15-07-21 | |
13-07-23 | 134.70 | 14-07-29 | 131.80 | 15-07-28 | |
13-07-30 | 132.70 | 14-08-05 | 131.10 | 15-08-04 | |
13-08-06 | 131.50 | 14-08-12 | 133.60 | 15-08-11 | |
13-08-13 | 130.00 | 14-08-19 | 131.30 | 15-08-18 | |
13-08-20 | 132.00 | 14-08-26 | 132.10 | 15-08-25 | |
13-08-27 | 133.00 | 14-09-02 | 132.80 | 15-09-01 | |
13-09-03 | 133.90 | 14-09-09 | 133.00 | 15-09-08 | |
13-09-10 | 132.10 | 14-09-16 | 129.90 | 15-09-15 | |
13-09-17 | 130.60 | 14-09-23 | 129.40 | 15-09-22 | |
13-09-24 | 126.40 | 14-09-30 | 130.10 | 15-09-29 | |
13-10-01 | 124.30 | 14-10-07 | 128.00 | 15-10-06 | |
13-10-08 | 123.60 | 14-10-14 | 123.10 | 15-10-13 | |
13-10-15 | 124.80 | 14-10-21 | 121.90 | 15-10-20 | |
13-10-22 | 125.50 | 14-10-28 | 118.80 | 15-10-27 | |
13-10-29 | 124.40 | 14-11-04 | 117.80 | 15-11-03 | |
13-11-05 | 123.70 | 14-11-11 | 119.20 | 15-11-10 | |
13-11-12 | 122.60 | 14-11-18 | 116.20 | 15-11-17 | |
13-11-19 | 124.60 | 14-11-25 | 114.40 | 15-11-24 | |
13-11-26 | 126.40 | 14-12-02 | 112.30 | 15-12-01 | |
13-12-03 | 125.40 | 14-12-09 | 107.20 | 15-12-08 | |
13-12-10 | 125.90 | 14-12-16 | 101.10 | 15-12-15 | |
13-12-17 | 124.50 | 14-12-23 | 99.40 | 15-12-22 | |
13-12-24 | 125.00 | 14-12-30 | 98.10 | 15-12-29 | |
13-12-31 | 128.30 |
¢/L | Week of: 2015-03-31 | Change from: Previous Week | Change from: Last Year |
---|---|---|---|
Gasoline | 107.1 | +0.2 | -25.2 |
Diesel | 115.1 | +1.2 | -27.2 |
Furnace Oil | 112.7 | +0.8 | -16.6 |
Natural Gas Prices in $CA/GJ | |||
Alberta (NGX) | 2.52 | -0.11 | -1.97 |
Ontario (Dawn) | 3.34 | -0.02 | -1.82 |
Source: NRCan, Bloomberg, NGX
2015-03-31 | ¢/kilogram | ¢/L gasoline equivalent | ¢/L diesel equivalent |
---|---|---|---|
Vancouver | 123.6 | 81.5 | 84.5 |
Edmonton | 115.0 | 75.9 | 78.7 |
Toronto | 128.4 | 84.7 | 87.8 |
Source: ¢/kg Kent Marketing Services Limited
Recent Developments
- Canadian Gasoline Sales Up 2.6%: Canadians consumed nearly 46 billion litres of gasoline in 2014, or roughly 1.1 billion litres more than last year, an increase of 2.6%. In the same period, diesel fuel sales increased by 2.6% to 30.5 billion litres, an increase of 790 million litres. Furnace oil sales rose by less than 1% to 2.6 billion litres. (Statistics Canada, Cansim Table 134-0004)
- U.S Crude Oil Storage: The U.S. Energy Information Administration released its weekly petroleum data for the week of March 20, 2015. U.S. commercial crude oil inventories increased by 8.2 million barrels (2%) over the previous week. Overall crude inventories reached their highest levels in the last 80 years at 466.7 million barrels. At the same time, gasoline inventories decreased but remain in above their five-year average range. (Source: U.S. EIA Weekly Petroleum Status Report)
- American Export Ban: A report by Baker Institute, titled “To Lift or Not to Lift? The U.S. Crude Oil Export Ban: Implications for Price and Energy Security,” concludes that the spread between international and domestic crude prices will narrow if the U.S. were to lift its crude export ban; resulting in lower gasoline prices, and improved U.S. energy security. The report states that lifting the ban would allow U.S. refineries to compete more efficiently by removing the discount for valuable light crude, restoring the investment rationale for firms that poured cash into configurations that can handle heavy crude. However, according to industry analysts the political will for lifting the ban is low. They suggest that lifting the ban could be blamed if prices at the pump were to increase. (Source: Baker Institute)
Retail Gasoline Overview
For the period ending March 31, 2015, the four-week average regular gasoline pump price in selected cities across Canada was $1.07 per litre, a 0.4-cent per litre decrease compared to the previous report of March 20, 2015. Compared to the same period in 2014, the average Canadian pump price is 25 cents per litre lower.
The four-week average crude component decreased by 1 cent to 43 cents compared to two weeks ago. Compared to the same period in 2014 the crude oil price component of gasoline is 29 cents per litre lower.
Retail gasoline prices in most Western centres increased on average by 0.1 cent per litre compared to the previous report and ranged from 92 cents per litre to $1.23 per litre. Prices in Eastern cities decreased slightly by 0.4 cent per litre and ranged from $1.04 per litre to $1.18 per litre.
At the national level, refining and marketing costs and margins registered an increase 0f 2.7 cents per litre to 29 cents per litre compared to the last report two weeks ago.
Figure 3: Regular Gasoline Pump Prices in Selected Cities Four-Week Average (March 10 to 31, 2015)
Text version
Figure 3
This graph shows the gasoline price components for 2 territories and 10 cities plus the national average.
Whitehorse | Yellowknife | Vancouver | Calgary | Regina | Winnipeg | Toronto | Montreal* | Saint John* | Halifax* | Charlottetown* | St. John's* | Canada | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Pump Price/Prix à la pompe | 102.4 | 113.9 | 122.9 | 92.3 | 97.4 | 95.1 | 104.4 | 117.8 | 103.8 | 108.9 | 106.7 | 111.9 | 107.2 |
Crude (est.) / Brut (est.) | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 30.5 | 34.5 | 45.3 | 45.3 | 45.3 | 45.3 | 45.3 | 40.4 |
Federal Taxes / Taxes fédérales | 14.9 | 15.4 | 15.9 | 14.4 | 14.6 | 14.5 | 10.0 | 15.1 | 10.0 | 10.0 | 10.0 | 10.0 | 15.4 |
Provincial Tax / Taxe provinciale | 6.2 | 10.7 | 32.2 | 9.0 | 15.0 | 14.0 | 14.7 | 32.4 | 13.6 | 15.5 | 13.1 | 16.5 | 22.4 |
HST | 12.0 | 11.9 | 14.2 | 13.1 | 12.9 | ||||||||
Refining & Marketing Costs & Margins / Coûts et | 50.8 | 57.3 | 44.3 | 38.4 | 37.3 | 36.1 | 33.2 | 24.9 | 22.9 | 23.9 | 25.2 | 27.2 | 29.0 |
Source: NRCan
* Regulated Markets
Note: Toronto crude oil cost includes pipeline tolls of $4 per barrel for light crude oil from Edmonton to Sarnia, Ontario.
Summer Gasoline Transition
In gasoline, volatility is measured by Reid Vapor Pressure (RVP). The higher the RVP, the more volatile the gasoline and the higher level of evaporation. When combined with higher summer temperatures, gasoline with a high RVP can increase emissions of unhealthy ground-level ozone that contributes to smog.
In order to improve air quality and protect human health, governments regulate the maximum RVP in
summer gasoline. As a result, there is a difference between gasoline sold in the summer and the winter. To reduce the RVP, refiners decrease the level of butane (which has a relatively high RVP) in gasoline and replace it with more expensive products. These increased manufacturing costs are reflected in increased wholesale and retail gasoline prices during the summer months.
In Canada, provincial governments regulate the availability of summer grade gasoline using technical standards set by the Canadian General Standards Board. The timing of the changeover depends on the region but usually occurs between April and May.
To ensure widespread availability at retail stations, refiners have to begin manufacturing summer-grade gasoline well in advance of the required date.
Source: EIA Petroleum Weekly, NRCan
Wholesale Gasoline Prices
For the week ending March 26, 2015, wholesale gasoline prices increased in most Canadian and American cities compared to the previous week.
Wholesale gasoline price changes ranged from an increase of 3.5 cents per litre to a decrease of 3 cents. Prices for the period ended in the 57- to 66–cent-per-litre range.
In the Eastern markets of Canada and the U.S., wholesale gasoline price changes, compared to the previous week, increased in the range of less than 1 to almost 4 cents per litre. Prices for the period ended in the 58- to 62-cent-per-litre range.
Wholesale gasoline prices in Western centres ranged between a decrease of almost 3 cents to an increase of 3.5 cents per litre and ended in the 60- to 66-cent-per-litre range.
In the last four weeks, wholesale price changes in selected Canadian and American centres ranged from an increase of less than one cent to a decrease of almost 6 cents.
Text version
Figure 4
This graph shows the trend in wholesale gasoline prices for selected centres in Canada and the U.S.
DATE | Halifax | Braintree | Montreal | Rochester | Toronto | Buffalo | Edmonton | Grand Forks | Vancouver | Seattle |
---|---|---|---|---|---|---|---|---|---|---|
Thu 02-Jan-14 | 83.00 | 81.60 | 83.90 | 81.26 | 82.40 | 81.49 | 72.90 | 77.05 | 77.80 | 72.33 |
Thu 09-Jan-14 | 81.80 | 79.89 | 81.30 | 81.25 | 80.00 | 81.12 | 72.60 | 77.50 | 75.40 | 69.37 |
Thu 16-Jan-14 | 79.90 | 78.10 | 80.80 | 80.69 | 79.20 | 80.27 | 73.60 | 78.54 | 74.50 | 69.50 |
Thu 23-Jan-14 | 83.30 | 81.27 | 82.50 | 80.86 | 81.50 | 84.27 | 75.20 | 81.56 | 77.80 | 72.04 |
Thu 30-Jan-14 | 83.60 | 81.57 | 82.50 | 81.27 | 81.60 | 83.07 | 75.90 | 82.75 | 77.20 | 72.24 |
Thu 06-Feb-14 | 83.00 | 81.77 | 81.00 | 79.85 | 80.60 | 82.00 | 75.00 | 82.38 | 76.40 | 73.02 |
Thu 13-Feb-14 | 85.40 | 84.58 | 83.50 | 82.68 | 83.50 | 83.54 | 77.70 | 86.24 | 79.80 | 74.26 |
Thu 20-Feb-14 | 87.30 | 87.33 | 84.90 | 85.83 | 85.20 | 88.00 | 79.60 | 89.82 | 80.40 | 76.56 |
Thu 27-Feb-14 | 87.60 | 87.64 | 84.60 | 86.29 | 85.70 | 87.43 | 83.00 | 89.92 | 82.60 | 80.13 |
Thu 06-Mar-14 | 85.10 | 84.56 | 83.30 | 84.37 | 84.20 | 85.84 | 84.10 | 91.11 | 84.80 | 81.55 |
Thu 13-Mar-14 | 85.90 | 84.97 | 83.80 | 85.80 | 83.50 | 86.75 | 85.30 | 91.48 | 85.40 | 82.23 |
Thu 20-Mar-14 | 84.20 | 86.34 | 82.40 | 86.82 | 82.10 | 87.62 | 85.00 | 91.13 | 85.70 | 84.11 |
Thu 27-Mar-14 | 83.40 | 84.62 | 84.00 | 84.72 | 82.80 | 87.34 | 85.90 | 90.80 | 86.80 | 85.82 |
Thu 03-Apr-14 | 81.90 | 82.99 | 83.10 | 83.94 | 82.50 | 87.19 | 85.30 | 90.11 | 85.90 | 83.37 |
Thu 10-Apr-14 | 86.70 | 82.53 | 86.50 | 85.36 | 86.00 | 95.70 | 88.00 | 91.01 | 89.40 | 86.71 |
Thu 17-Apr-14 | 90.60 | 88.47 | 87.90 | 88.00 | 88.70 | 97.62 | 88.80 | 90.24 | 91.20 | 88.76 |
Thu 24-Apr-14 | 91.30 | 91.03 | 90.10 | 89.26 | 91.40 | 99.92 | 90.50 | 92.66 | 94.50 | 88.79 |
Thu 01-May-14 | 87.60 | 88.06 | 87.00 | 86.18 | 88.80 | 87.36 | 88.70 | 88.15 | 91.30 | 83.13 |
Thu 08-May-14 | 86.90 | 87.20 | 84.80 | 83.61 | 86.60 | 89.49 | 86.60 | 87.11 | 91.00 | 84.56 |
Thu 15-May-14 | 86.50 | 84.35 | 85.10 | 84.57 | 87.20 | 86.86 | 86.90 | 88.18 | 92.50 | 85.56 |
Thu 22-May-14 | 88.30 | 85.62 | 86.70 | 85.75 | 89.30 | 88.24 | 88.30 | 90.07 | 93.20 | 88.76 |
Thu 29-May-14 | 87.30 | 85.51 | 86.80 | 85.31 | 89.40 | 87.46 | 88.60 | 90.44 | 93.60 | 87.32 |
Thu 05-Jun-14 | 84.80 | 84.40 | 86.10 | 82.54 | 89.80 | 86.83 | 90.60 | 89.57 | 93.60 | 88.04 |
Thu 12-Jun-14 | 86.10 | 87.14 | 86.30 | 84.73 | 91.30 | 88.58 | 89.80 | 90.68 | 95.40 | 89.01 |
Thu 19-Jun-14 | 88.80 | 87.87 | 89.70 | 86.27 | 93.50 | 88.82 | 90.50 | 91.88 | 97.40 | 90.68 |
Thu 26-Jun-14 | 87.20 | 85.34 | 88.00 | 82.13 | 92.30 | 86.41 | 87.70 | 89.10 | 95.80 | 89.24 |
Thu 03-Jul-14 | 85.20 | 83.69 | 86.20 | 81.51 | 91.00 | 83.83 | 86.10 | 87.49 | 92.60 | 84.50 |
Thu 10-Jul-14 | 83.30 | 85.59 | 84.00 | 81.81 | 88.30 | 81.79 | 82.70 | 85.06 | 87.10 | 77.57 |
Thu 17-Jul-14 | 83.00 | 80.56 | 83.20 | 80.28 | 87.00 | 80.73 | 81.10 | 83.27 | 85.90 | 80.33 |
Thu 24-Jul-14 | 82.80 | 79.09 | 82.80 | 79.34 | 86.20 | 79.74 | 80.00 | 81.68 | 85.80 | 81.44 |
Thu 31-Jul-14 | 83.80 | 87.46 | 83.40 | 80.18 | 86.40 | 80.24 | 82.20 | 83.30 | 87.80 | 84.44 |
Thu 07-Aug-14 | 81.40 | 79.26 | 81.80 | 80.46 | 84.90 | 79.89 | 81.90 | 88.04 | 87.30 | 86.85 |
Thu 14-Aug-14 | 82.60 | 77.16 | 82.40 | 79.65 | 84.90 | 78.55 | 84.30 | 84.66 | 87.00 | 84.17 |
Thu 21-Aug-14 | 81.90 | 79.42 | 81.70 | 79.51 | 83.90 | 81.73 | 81.80 | 85.88 | 86.20 | 87.20 |
Thu 28-Aug-14 | 83.10 | 78.90 | 82.80 | 80.35 | 84.40 | 80.39 | 82.90 | 83.88 | 86.70 | 83.98 |
Thu 04-Sep-14 | 83.10 | 80.84 | 83.70 | 79.15 | 84.90 | 82.42 | 84.60 | 83.78 | 87.50 | 82.30 |
Thu 11-Sep-14 | 81.50 | 76.41 | 81.80 | 76.36 | 81.60 | 81.51 | 83.70 | 81.38 | 84.00 | 76.59 |
Thu 18-Sep-14 | 80.60 | 77.81 | 80.50 | 74.98 | 80.70 | 79.17 | 81.60 | 80.84 | 82.80 | 71.42 |
Thu 25-Sep-14 | 83.60 | 78.95 | 83.50 | 80.27 | 83.20 | 82.88 | 82.40 | 84.63 | 81.10 | 74.90 |
Thu 02-Oct-14 | 81.10 | 79.27 | 80.70 | 78.81 | 80.80 | 77.62 | 80.70 | 77.68 | 79.00 | 70.20 |
Thu 09-Oct-14 | 76.90 | 79.26 | 76.00 | 68.83 | 75.10 | 72.60 | 76.90 | 75.00 | 73.00 | 62.09 |
Thu 16-Oct-14 | 72.80 | 80.09 | 71.40 | 71.13 | 70.90 | 73.39 | 71.60 | 77.11 | 68.80 | 60.12 |
Thu 23-Oct-14 | 73.00 | 79.88 | 71.20 | 68.07 | 71.40 | 73.20 | 71.00 | 84.35 | 68.90 | 61.00 |
Thu 30-Oct-14 | 72.80 | 67.77 | 72.30 | 68.97 | 73.10 | 71.65 | 70.00 | 74.62 | 71.90 | 62.09 |
Thu 06-Nov-14 | 68.60 | 67.60 | 68.40 | 68.48 | 69.50 | 72.40 | 70.10 | 69.67 | 71.40 | 67.60 |
Thu 13-Nov-14 | 69.50 | 65.75 | 69.90 | 65.51 | 70.50 | 69.41 | 69.90 | 62.53 | 74.60 | 68.81 |
Thu 20-Nov-14 | 68.20 | 65.89 | 68.10 | 64.70 | 68.40 | 70.32 | 65.70 | 62.55 | 70.30 | 64.40 |
Thu 27-Nov-14 | 67.50 | 65.06 | 67.70 | 65.72 | 68.10 | 70.63 | 63.70 | 62.26 | 65.70 | 59.13 |
Thu 04-Dec-14 | 61.90 | 58.14 | 62.40 | 58.98 | 62.70 | 62.97 | 59.20 | 56.59 | 60.20 | 51.92 |
Thu 11-Dec-14 | 55.60 | 52.87 | 57.20 | 53.75 | 57.10 | 58.20 | 55.70 | 53.10 | 54.70 | 44.73 |
Thu 18-Dec-14 | 53.90 | 50.11 | 55.60 | 52.37 | 55.80 | 56.36 | 52.20 | 48.09 | 54.70 | 42.88 |
Thu 25-Dec-14 | 54.20 | 51.09 | 55.70 | 52.54 | 56.30 | 57.54 | 52.10 | 47.32 | 55.20 | 44.15 |
Thu 01-Jan-15 | 50.20 | 45.88 | 51.30 | 47.82 | 51.70 | 52.04 | 47.20 | 42.25 | 51.20 | 41.16 |
Thu 08-Jan-15 | 46.90 | 43.19 | 50.60 | 44.81 | 47.30 | 48.09 | 45.00 | 42.87 | 48.50 | 40.72 |
Thu 15-Jan-15 | 46.60 | 42.30 | 50.30 | 43.50 | 47.20 | 46.68 | 44.20 | 43.28 | 47.00 | 37.04 |
Thu 22-Jan-15 | 47.20 | 45.26 | 50.50 | 45.67 | 47.20 | 49.64 | 43.90 | 45.92 | 47.00 | 39.15 |
Thu 29-Jan-15 | 48.20 | 47.00 | 51.00 | 48.37 | 48.00 | 50.44 | 48.40 | 48.80 | 48.80 | 42.85 |
Thu 05-Feb-15 | 52.90 | 50.65 | 54.60 | 51.75 | 52.20 | 54.13 | 52.10 | 53.44 | 54.60 | 50.12 |
Thu 12-Feb-15 | 56.20 | 53.56 | 57.40 | 54.19 | 55.40 | 57.51 | 56.70 | 56.48 | 59.40 | 53.76 |
Thu 19-Feb-15 | 55.60 | 55.91 | 57.70 | 54.23 | 55.40 | 58.78 | 54.70 | 60.87 | 60.40 | 57.33 |
Thu 26-Feb-15 | 60.80 | 57.71 | 62.30 | 58.17 | 60.20 | 62.69 | 58.60 | 65.23 | 70.30 | 68.96 |
Thu 05-Mar-15 | 61.20 | 56.75 | 63.80 | 57.62 | 61.20 | 62.49 | 56.30 | 65.32 | 71.60 | 63.08 |
Thu 12-Mar-15 | 59.30 | 55.45 | 62.70 | 56.74 | 62.36 | 62.36 | 58.20 | 63.71 | 66.40 | 59.34 |
Thu 19-Mar-15 | 57.90 | 54.71 | 61.40 | 55.89 | 58.30 | 60.60 | 63.00 | 63.29 | 65.20 | 59.76 |
Thu 26-Mar-15 | 58.10 | 58.24 | 62.00 | 57.84 | 58.90 | 60.60 | 60.10 | 64.71 | 66.30 | 63.29 |
Sources: NRCan, Bloomberg Oil Buyers Guide
Gasoline Refining and Marketing Margins
Four-week rolling averages are used for gasoline refining and marketing margins.
Refining margins have been increasing steadily since the beginning of the year. This is a reflection of the drawdown of gasoline inventories throughout North America which reflects increased demand in response to lower gasoline prices. Demand is expected to increase as we approach the summer driving season.
However, in response to the downward pressure on wholesale gasoline prices in recent weeks, refining margins have recently started to show signs of a decline.
Nationally, marketing margins hovered around an average of 9 cents per litre. As outlets compete for market share, marketing margins can be volatile—as shown in the individual centres.
Text version
Figure 5
These graphs show the trend in refining and marketing costs and margins for selected centres in Canada and the national average.
4-week rolling average | Canada | Vancouver | Calgary | Toronto | Montreal | Halifax | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Marketing Margin | Refining Margin | Marketing Margin | Refining Margin | Marketing Margin | Refining Margin | Marketing Margin | Refining Margin | Marketing Margin | Refining Margin | Marketing Margin | Refining Margin | |
2013-01-01 | 6.2 | 18.6 | 2.8 | 25.9 | 6.1 | 23.1 | 7.1 | 28.9 | 3.6 | 7.3 | 7.7 | 5.6 |
2013-01-08 | 6.4 | 19.0 | 2.7 | 24.5 | 6.0 | 19.8 | 7.1 | 27.6 | 4.4 | 8.0 | 7.5 | 6.6 |
2013-01-15 | 6.5 | 17.5 | 3.5 | 22.2 | 5.9 | 16.3 | 6.8 | 25.5 | 4.6 | 8.2 | 8.5 | 7.2 |
2013-01-22 | 6.9 | 15.6 | 4.4 | 20.2 | 6.3 | 14.3 | 7.0 | 23.9 | 5.5 | 8.3 | 8.5 | 7.6 |
2013-01-29 | 6.9 | 15.0 | 4.2 | 16.8 | 5.8 | 11.0 | 6.5 | 20.7 | 7.7 | 8.4 | 7.6 | 7.9 |
2013-02-05 | 7.0 | 14.6 | 4.2 | 18.2 | 6.4 | 12.3 | 6.8 | 21.1 | 8.1 | 9.5 | 7.1 | 9.2 |
2013-02-12 | 6.8 | 16.2 | 3.4 | 22.2 | 6.4 | 16.1 | 6.9 | 23.6 | 7.8 | 9.4 | 7.1 | 9.1 |
2013-02-19 | 6.4 | 18.5 | 2.4 | 25.6 | 6.2 | 19.9 | 6.8 | 25.7 | 7.0 | 11.0 | 7.4 | 10.8 |
2013-02-26 | 6.6 | 20.8 | 3.4 | 31.1 | 6.3 | 26.0 | 7.0 | 30.0 | 6.3 | 13.7 | 8.6 | 13.6 |
2013-03-05 | 6.7 | 22.7 | 4.7 | 32.0 | 5.2 | 27.8 | 7.0 | 30.1 | 6.7 | 13.9 | 9.3 | 14.0 |
2013-03-12 | 6.8 | 23.3 | 5.8 | 32.1 | 4.7 | 28.9 | 7.1 | 29.7 | 6.8 | 14.3 | 9.0 | 14.6 |
2013-03-19 | 7.2 | 23.1 | 7.0 | 31.5 | 5.1 | 29.1 | 7.4 | 29.4 | 6.8 | 12.3 | 9.1 | 12.8 |
2013-03-26 | 7.5 | 21.7 | 7.3 | 27.8 | 6.0 | 26.5 | 7.8 | 26.4 | 6.7 | 12.3 | 9.0 | 12.9 |
2013-04-02 | 7.1 | 20.9 | 6.9 | 26.5 | 6.4 | 25.8 | 7.5 | 25.6 | 5.2 | 12.6 | 8.4 | 12.9 |
2013-04-09 | 7.3 | 19.4 | 6.8 | 24.2 | 7.4 | 23.6 | 6.8 | 24.1 | 5.7 | 13.2 | 9.2 | 12.6 |
2013-04-16 | 7.8 | 17.9 | 6.9 | 22.7 | 7.7 | 21.6 | 6.7 | 22.2 | 7.2 | 11.6 | 10.1 | 10.5 |
2013-04-23 | 7.9 | 17.6 | 7.0 | 23.6 | 7.3 | 22.4 | 6.6 | 22.5 | 8.4 | 12.6 | 9.5 | 11.1 |
2013-04-30 | 8.2 | 17.6 | 7.2 | 24.1 | 7.4 | 22.9 | 6.8 | 22.2 | 9.5 | 12.2 | 9.2 | 10.6 |
2013-05-07 | 7.8 | 17.9 | 6.8 | 24.4 | 5.6 | 23.0 | 6.9 | 20.1 | 9.9 | 12.1 | 8.3 | 10.3 |
2013-05-14 | 7.4 | 19.2 | 6.7 | 27.0 | 4.4 | 25.1 | 6.9 | 19.3 | 10.2 | 12.4 | 7.8 | 10.2 |
2013-05-21 | 6.6 | 20.7 | 6.3 | 29.2 | 4.1 | 28.2 | 7.0 | 19.6 | 7.7 | 13.4 | 7.6 | 10.7 |
2013-05-28 | 6.7 | 21.3 | 6.3 | 31.3 | 5.4 | 32.2 | 7.0 | 20.8 | 6.9 | 13.8 | 8.1 | 10.9 |
2013-06-04 | 7.0 | 22.6 | 6.6 | 31.4 | 7.2 | 35.6 | 7.2 | 22.0 | 6.3 | 13.7 | 8.4 | 11.2 |
2013-06-11 | 7.3 | 23.3 | 6.8 | 29.9 | 8.5 | 36.8 | 7.2 | 22.9 | 6.4 | 13.9 | 8.1 | 11.8 |
2013-06-18 | 8.5 | 22.7 | 7.5 | 29.4 | 9.9 | 36.5 | 7.4 | 23.5 | 9.0 | 13.0 | 8.2 | 11.5 |
2013-01-01 | 6.2 | 18.6 | 2.8 | 25.9 | 6.1 | 23.1 | 7.1 | 28.9 | 3.6 | 7.3 | 7.7 | 5.6 |
2013-01-08 | 6.4 | 19.0 | 2.7 | 24.5 | 6.0 | 19.8 | 7.1 | 27.6 | 4.4 | 8.0 | 7.5 | 6.6 |
2013-01-15 | 6.5 | 17.5 | 3.5 | 22.2 | 5.9 | 16.3 | 6.8 | 25.5 | 4.6 | 8.2 | 8.5 | 7.2 |
2013-01-22 | 6.9 | 15.6 | 4.4 | 20.2 | 6.3 | 14.3 | 7.0 | 23.9 | 5.5 | 8.3 | 8.5 | 7.6 |
2013-01-29 | 6.9 | 15.0 | 4.2 | 16.8 | 5.8 | 11.0 | 6.5 | 20.7 | 7.7 | 8.4 | 7.6 | 7.9 |
2013-02-05 | 7.0 | 14.6 | 4.2 | 18.2 | 6.4 | 12.3 | 6.8 | 21.1 | 8.1 | 9.5 | 7.1 | 9.2 |
2013-02-12 | 6.8 | 16.2 | 3.4 | 22.2 | 6.4 | 16.1 | 6.9 | 23.6 | 7.8 | 9.4 | 7.1 | 9.1 |
2013-02-19 | 6.4 | 18.5 | 2.4 | 25.6 | 6.2 | 19.9 | 6.8 | 25.7 | 7.0 | 11.0 | 7.4 | 10.8 |
2013-02-26 | 6.6 | 20.8 | 3.4 | 31.1 | 6.3 | 26.0 | 7.0 | 30.0 | 6.3 | 13.7 | 8.6 | 13.6 |
2013-03-05 | 6.7 | 22.7 | 4.7 | 32.0 | 5.2 | 27.8 | 7.0 | 30.1 | 6.7 | 13.9 | 9.3 | 14.0 |
2013-03-12 | 6.8 | 23.3 | 5.8 | 32.1 | 4.7 | 28.9 | 7.1 | 29.7 | 6.8 | 14.3 | 9.0 | 14.6 |
2013-03-19 | 7.2 | 23.1 | 7.0 | 31.5 | 5.1 | 29.1 | 7.4 | 29.4 | 6.8 | 12.3 | 9.1 | 12.8 |
2013-03-26 | 7.5 | 21.7 | 7.3 | 27.8 | 6.0 | 26.5 | 7.8 | 26.4 | 6.7 | 12.3 | 9.0 | 12.9 |
2013-04-02 | 7.1 | 20.9 | 6.9 | 26.5 | 6.4 | 25.8 | 7.5 | 25.6 | 5.2 | 12.6 | 8.4 | 12.9 |
2013-04-09 | 7.3 | 19.4 | 6.8 | 24.2 | 7.4 | 23.6 | 6.8 | 24.1 | 5.7 | 13.2 | 9.2 | 12.6 |
2013-04-16 | 7.8 | 17.9 | 6.9 | 22.7 | 7.7 | 21.6 | 6.7 | 22.2 | 7.2 | 11.6 | 10.1 | 10.5 |
2013-04-23 | 7.9 | 17.6 | 7.0 | 23.6 | 7.3 | 22.4 | 6.6 | 22.5 | 8.4 | 12.6 | 9.5 | 11.1 |
2013-04-30 | 8.2 | 17.6 | 7.2 | 24.1 | 7.4 | 22.9 | 6.8 | 22.2 | 9.5 | 12.2 | 9.2 | 10.6 |
2013-05-07 | 7.8 | 17.9 | 6.8 | 24.4 | 5.6 | 23.0 | 6.9 | 20.1 | 9.9 | 12.1 | 8.3 | 10.3 |
2013-05-14 | 7.4 | 19.2 | 6.7 | 27.0 | 4.4 | 25.1 | 6.9 | 19.3 | 10.2 | 12.4 | 7.8 | 10.2 |
2013-05-21 | 6.6 | 20.7 | 6.3 | 29.2 | 4.1 | 28.2 | 7.0 | 19.6 | 7.7 | 13.4 | 7.6 | 10.7 |
2013-05-28 | 6.7 | 21.3 | 6.3 | 31.3 | 5.4 | 32.2 | 7.0 | 20.8 | 6.9 | 13.8 | 8.1 | 10.9 |
2013-06-04 | 7.0 | 22.6 | 6.6 | 31.4 | 7.2 | 35.6 | 7.2 | 22.0 | 6.3 | 13.7 | 8.4 | 11.2 |
2013-06-11 | 7.3 | 23.3 | 6.8 | 29.9 | 8.5 | 36.8 | 7.2 | 22.9 | 6.4 | 13.9 | 8.1 | 11.8 |
2013-06-18 | 8.5 | 22.7 | 7.5 | 29.4 | 9.9 | 36.5 | 7.4 | 23.5 | 9.0 | 13.0 | 8.2 | 11.5 |
2013-10-22 | 7.3 | 13.2 | 5.9 | 18.8 | 7.3 | 20.0 | 7.4 | 18.8 | 6.9 | 5.1 | 6.8 | 6.3 |
2013-10-29 | 7.3 | 13.9 | 5.7 | 18.1 | 7.8 | 20.1 | 6.9 | 19.1 | 7.6 | 5.1 | 6.7 | 6.3 |
2013-11-05 | 7.8 | 13.6 | 5.9 | 18.8 | 8.9 | 21.3 | 7.2 | 20.8 | 8.4 | 5.7 | 7.3 | 6.9 |
2013-11-12 | 7.8 | 14.5 | 6.0 | 18.5 | 9.5 | 21.2 | 7.4 | 21.2 | 7.6 | 6.0 | 7.4 | 7.0 |
2013-11-19 | 7.6 | 16.2 | 6.1 | 21.9 | 7.7 | 24.7 | 7.3 | 25.6 | 8.3 | 5.9 | 6.6 | 7.0 |
2013-11-26 | 7.6 | 17.8 | 5.8 | 23.7 | 7.2 | 26.9 | 7.9 | 28.3 | 8.8 | 6.8 | 6.6 | 7.8 |
2013-12-03 | 7.0 | 19.9 | 4.9 | 24.8 | 6.1 | 28.1 | 7.7 | 30.5 | 7.3 | 5.9 | 6.1 | 6.9 |
2013-12-10 | 7.3 | 20.2 | 4.5 | 24.3 | 6.1 | 27.8 | 7.9 | 30.9 | 8.3 | 6.2 | 6.9 | 7.0 |
2013-12-17 | 7.8 | 18.9 | 4.3 | 22.2 | 8.2 | 24.6 | 7.8 | 28.9 | 8.0 | 6.1 | 8.0 | 6.4 |
2013-12-24 | 7.2 | 18.4 | 4.7 | 22.3 | 7.6 | 22.9 | 7.7 | 28.5 | 5.6 | 6.8 | 7.6 | 6.5 |
2013-12-31 | 7.5 | 18.1 | 4.0 | 21.0 | 7.5 | 20.0 | 6.8 | 26.3 | 5.6 | 8.2 | 6.9 | 7.3 |
2014-01-07 | 7.7 | 16.4 | 5.2 | 20.8 | 7.6 | 18.6 | 7.4 | 25.3 | 4.7 | 8.1 | 6.3 | 7.4 |
2014-01-14 | 7.3 | 16.7 | 5.5 | 21.2 | 6.8 | 19.7 | 7.6 | 25.6 | 4.1 | 8.7 | 5.8 | 8.1 |
2014-01-21 | 7.9 | 16.3 | 5.2 | 20.1 | 7.0 | 19.4 | 7.6 | 24.3 | 6.4 | 8.1 | 6.6 | 7.7 |
2014-01-28 | 7.9 | 15.6 | 6.6 | 20.1 | 6.7 | 20.1 | 8.7 | 24.1 | 7.8 | 6.9 | 7.4 | 6.7 |
2014-02-04 | 7.6 | 16.1 | 5.5 | 20.0 | 6.7 | 21.3 | 8.0 | 24.2 | 8.2 | 6.5 | 8.1 | 6.7 |
2014-02-11 | 7.3 | 16.4 | 5.0 | 16.9 | 6.1 | 18.0 | 8.0 | 20.7 | 7.8 | 6.5 | 7.6 | 7.3 |
2014-02-18 | 7.0 | 15.0 | 4.6 | 16.4 | 6.7 | 17.7 | 7.9 | 20.3 | 6.6 | 7.2 | 7.6 | 8.7 |
2014-02-25 | 6.5 | 14.3 | 4.3 | 12.5 | 6.5 | 14.3 | 7.8 | 16.8 | 5.1 | 8.2 | 7.4 | 10.2 |
2014-03-04 | 6.3 | 14.1 | 4.0 | 11.8 | 6.7 | 13.3 | 7.2 | 15.0 | 5.0 | 9.1 | 7.4 | 11.6 |
2014-03-11 | 6.7 | 12.6 | 4.7 | 14.0 | 7.3 | 16.0 | 7.1 | 16.0 | 5.3 | 9.1 | 8.8 | 11.2 |
2014-03-18 | 7.1 | 13.3 | 5.9 | 15.3 | 6.5 | 17.9 | 7.6 | 15.7 | 6.3 | 8.5 | 9.6 | 10.4 |
2014-03-25 | 7.7 | 14.3 | 6.8 | 19.7 | 7.4 | 22.1 | 7.8 | 18.0 | 6.6 | 8.4 | 9.6 | 9.7 |
2014-04-01 | 8.1 | 15.1 | 8.3 | 21.5 | 7.3 | 24.1 | 8.4 | 18.9 | 7.0 | 8.4 | 9.4 | 8.7 |
2014-04-08 | 8.1 | 16.6 | 8.3 | 22.4 | 8.1 | 24.5 | 8.5 | 19.0 | 6.8 | 9.5 | 8.4 | 9.3 |
2014-04-15 | 7.8 | 18.2 | 8.5 | 23.7 | 9.0 | 24.9 | 8.4 | 20.3 | 5.8 | 11.1 | 7.1 | 11.0 |
2014-04-22 | 7.8 | 18.9 | 8.6 | 24.4 | 8.5 | 25.2 | 8.6 | 21.3 | 5.7 | 11.5 | 7.2 | 12.1 |
2014-04-29 | 8.0 | 20.0 | 8.7 | 26.0 | 9.3 | 26.1 | 8.7 | 23.0 | 5.9 | 12.2 | 8.2 | 13.2 |
2014-05-06 | 8.4 | 20.3 | 9.0 | 26.7 | 9.6 | 26.3 | 8.8 | 23.7 | 6.4 | 12.3 | 9.4 | 14.0 |
2014-05-13 | 8.7 | 19.8 | 8.4 | 27.4 | 9.9 | 26.0 | 8.5 | 23.5 | 7.4 | 11.5 | 10.0 | 13.3 |
2014-05-20 | 8.6 | 19.6 | 8.1 | 27.2 | 9.7 | 25.2 | 8.2 | 22.9 | 8.0 | 11.0 | 9.6 | 12.3 |
2014-05-27 | 8.0 | 19.4 | 7.7 | 27.2 | 7.9 | 24.8 | 7.8 | 22.5 | 8.0 | 10.8 | 8.4 | 12.1 |
2014-06-03 | 7.7 | 18.8 | 7.4 | 26.4 | 7.4 | 23.9 | 7.7 | 21.4 | 8.1 | 10.6 | 8.1 | 11.3 |
2014-06-10 | 7.4 | 19.4 | 7.3 | 26.4 | 6.9 | 24.3 | 7.6 | 22.0 | 7.7 | 11.2 | 7.8 | 11.3 |
2014-06-17 | 7.3 | 19.8 | 7.1 | 26.9 | 6.8 | 24.7 | 7.3 | 23.0 | 7.6 | 10.8 | 7.7 | 10.7 |
2014-06-24 | 7.8 | 19.9 | 7.3 | 28.5 | 8.6 | 25.7 | 7.7 | 24.8 | 7.6 | 11.0 | 8.0 | 10.5 |
2014-07-01 | 7.8 | 20.7 | 6.9 | 29.1 | 9.3 | 25.1 | 7.3 | 25.8 | 6.9 | 11.3 | 7.8 | 10.7 |
2014-07-08 | 8.2 | 20.0 | 7.7 | 28.0 | 10.0 | 24.0 | 7.7 | 25.6 | 7.1 | 10.8 | 8.2 | 10.3 |
2014-07-15 | 8.6 | 19.4 | 7.6 | 27.9 | 11.4 | 23.8 | 7.8 | 26.4 | 6.9 | 12.2 | 8.9 | 11.6 |
2014-07-22 | 8.4 | 19.0 | 7.3 | 26.2 | 11.2 | 22.4 | 7.1 | 25.6 | 7.2 | 11.6 | 8.7 | 11.3 |
2014-07-29 | 8.3 | 18.4 | 7.9 | 25.1 | 9.9 | 22.0 | 7.4 | 25.2 | 7.1 | 11.1 | 8.3 | 11.0 |
2014-08-05 | 7.9 | 18.2 | 7.6 | 24.6 | 8.9 | 21.6 | 7.2 | 24.4 | 7.2 | 10.4 | 8.1 | 10.4 |
2014-08-12 | 8.0 | 18.4 | 8.1 | 25.1 | 9.7 | 21.8 | 7.3 | 24.4 | 7.8 | 10.3 | 7.6 | 10.5 |
2014-08-19 | 8.6 | 17.8 | 8.3 | 25.2 | 10.5 | 22.3 | 7.3 | 24.2 | 7.0 | 10.1 | 7.8 | 10.4 |
2014-08-26 | 8.6 | 18.6 | 8.1 | 25.9 | 11.4 | 23.4 | 6.9 | 24.5 | 7.5 | 11.3 | 7.2 | 11.6 |
2014-09-02 | 8.4 | 19.5 | 7.9 | 26.6 | 11.8 | 24.5 | 6.8 | 24.7 | 7.4 | 12.2 | 7.0 | 12.5 |
2014-09-09 | 8.5 | 19.6 | 7.6 | 26.4 | 10.1 | 25.2 | 7.1 | 24.1 | 7.6 | 13.4 | 7.5 | 13.3 |
2014-09-16 | 8.0 | 20.1 | 8.2 | 25.4 | 8.5 | 25.4 | 7.6 | 22.9 | 7.7 | 13.4 | 7.8 | 13.3 |
2014-09-23 | 8.2 | 19.3 | 8.3 | 24.1 | 7.8 | 24.8 | 8.0 | 21.8 | 7.8 | 13.8 | 8.1 | 13.7 |
2014-09-30 | 8.1 | 19.2 | 8.6 | 22.2 | 7.5 | 24.4 | 7.9 | 21.6 | 7.3 | 14.3 | 8.0 | 14.2 |
2014-10-07 | 8.4 | 18.1 | 9.2 | 20.2 | 9.2 | 23.7 | 7.6 | 20.8 | 7.2 | 14.5 | 8.9 | 14.9 |
2014-10-14 | 8.8 | 17.0 | 8.6 | 17.9 | 11.0 | 22.1 | 7.7 | 19.2 | 8.0 | 13.2 | 9.6 | 13.9 |
2014-10-21 | 9.2 | 15.7 | 9.2 | 17.7 | 12.4 | 23.0 | 7.7 | 20.4 | 8.8 | 14.5 | 9.3 | 15.4 |
2014-10-28 | 9.6 | 13.4 | 8.5 | 16.5 | 13.8 | 21.1 | 8.0 | 18.8 | 9.2 | 12.5 | 9.6 | 13.5 |
2014-11-04 | 9.3 | 15.2 | 8.1 | 18.5 | 12.3 | 22.2 | 8.4 | 19.9 | 9.4 | 11.5 | 8.9 | 12.3 |
2014-11-11 | 9.2 | 16.2 | 8.3 | 19.7 | 10.5 | 21.9 | 8.7 | 20.2 | 9.9 | 10.6 | 7.5 | 11.1 |
2014-11-18 | 9.2 | 16.4 | 8.4 | 22.4 | 10.7 | 22.9 | 8.8 | 21.4 | 9.1 | 11.0 | 8.5 | 11.3 |
2014-11-25 | 9.2 | 16.8 | 9.4 | 22.7 | 10.9 | 22.7 | 8.7 | 21.4 | 9.4 | 10.8 | 8.3 | 11.0 |
2014-12-02 | 9.4 | 16.8 | 9.4 | 22.9 | 11.8 | 22.4 | 8.8 | 22.2 | 9.1 | 13.1 | 8.5 | 12.9 |
2014-12-09 | 9.7 | 15.7 | 9.9 | 19.4 | 13.2 | 19.6 | 8.8 | 20.1 | 8.9 | 11.5 | 9.4 | 11.1 |
2014-12-16 | 9.5 | 14.2 | 9.5 | 19.2 | 12.5 | 20.2 | 8.5 | 20.9 | 9.1 | 12.5 | 9.3 | 11.7 |
2014-12-23 | 9.4 | 13.8 | 9.5 | 18.3 | 11.8 | 19.4 | 8.8 | 20.1 | 9.1 | 11.9 | 9.0 | 10.4 |
2014-12-30 | 9.6 | 12.9 | 9.8 | 17.5 | 11.8 | 18.4 | 8.9 | 19.0 | 9.7 | 10.3 | 9.0 | 8.9 |
2015-01-06 | 9.4 | 12.5 | 9.7 | 18.1 | 11.3 | 18.3 | 9.1 | 18.9 | 8.8 | 11.2 | 9.0 | 9.0 |
2015-01-13 | 9.6 | 13.0 | 10.1 | 17.6 | 10.7 | 17.1 | 9.4 | 17.8 | 8.9 | 11.6 | 9.0 | 8.9 |
2015-01-20 | 9.5 | 12.9 | 9.9 | 17.1 | 10.9 | 16.7 | 9.4 | 17.1 | 8.3 | 12.1 | 8.8 | 9.0 |
2015-01-27 | 8.7 | 13.9 | 9.4 | 17.2 | 8.9 | 17.4 | 9.3 | 17.0 | 7.0 | 12.7 | 7.9 | 9.2 |
2015-02-03 | 7.6 | 16.1 | 8.6 | 18.9 | 7.5 | 19.3 | 8.5 | 18.3 | 5.7 | 14.0 | 6.1 | 11.0 |
2015-02-10 | 7.5 | 17.2 | 8.6 | 19.3 | 7.6 | 19.6 | 8.6 | 18.0 | 5.5 | 11.8 | 5.4 | 9.4 |
2015-02-17 | 7.6 | 18.0 | 9.3 | 21.9 | 7.6 | 21.9 | 9.0 | 19.4 | 5.3 | 12.5 | 5.8 | 10.6 |
2015-02-24 | 7.8 | 18.5 | 10.1 | 23.7 | 8.6 | 22.5 | 9.3 | 20.0 | 5.0 | 12.0 | 6.2 | 10.4 |
2015-03-03 | 9.5 | 19.1 | 11.3 | 27.3 | 10.8 | 23.7 | 10.2 | 21.7 | 7.7 | 13.2 | 7.7 | 11.6 |
2015-03-10 | 9.5 | 20.2 | 10.5 | 30.6 | 11.0 | 24.4 | 10.1 | 23.6 | 7.3 | 14.5 | 8.9 | 12.6 |
2015-03-17 | 9.4 | 20.9 | 9.7 | 32.1 | 9.7 | 24.7 | 9.6 | 24.4 | 8.3 | 15.8 | 9.9 | 13.4 |
2015-03-24 | 8.7 | 24.4 | 5.8 | 38.0 | 12.5 | 27.0 | 6.2 | 29.2 | 6.7 | 19.6 | 6.1 | 16.9 |
2015-03-31 | 8.6 | 21.9 | 9.7 | 30.1 | 10.5 | 24.7 | 8.6 | 23.6 | 9.0 | 16.9 | 9.7 | 13.7 |
Source: NRCan
Crude Oil Overview
Prices remain relatively unchanged over previous four weeks
For the week ending March 27, 2015, prices for the three marker light crudes averaged between $349.15/m3 and $445.82/m3 (US$44.13 and US$56.41 per barrel).
Compared to the previous week, all three light crude oil price benchmarks increased in the range of $9.31/m3 and $33.46/m3 (US$2.10 and US$4.91 per barrel). Canadian light crude oil prices at Edmonton increased by $33.46/m3 (US$4.91 per barrel) from the previous week, while WTI increased by $30.3/m3 (US$4.56 per barrel).
Canadian light crude oil prices remain significantly cheaper than imported global crudes. Currently Canadian light is $95.3/m3 (US $9.26 per barrel) less than Brent.
The Western Canada Select crude oil price increased by $37.60/m3 (US$5.29 per barrel) from the previous week, and has decreased by over $255/m3 (US$41 per barrel) compared to last year.
According to the U.S. EIA, the WTI-Brent differential has been widening recently, as record U.S. crude inventories have put downward pressure on the WTI price. In the latest Short term outlook, the EIA projects that this differential will average $7 per barrel for 2015.
This latest projection is much higher than the previous month’s outlook and reflects the impact of strong inventory build-up including at the Cushing Oklahoma storage hub.
Figure 6: Crude Oil Price Comparisons
Text version
Figure 6
This graph shows crude oil prices for Canadian Light Sweet, WTI, Brent and WCS. The average weekly prices for the period ending March 27, 2015, were $279/cubic metres, $385/cubic metres, $446/cubic metres and $283/cubic metres for the Canadian Light, WTI, Brent and WCS, respectively.
Dates | (Canadian Light Sweet) | WTI | Brent | WCS |
---|---|---|---|---|
01/13 | 549.97 | 592.14 | 699.83 | 387.55 |
02/13 | 553.76 | 605.29 | 736.06 | 370.93 |
03/13 | 560.66 | 598.93 | 705.36 | 430.10 |
04/13 | 571.20 | 590.06 | 663.78 | 441.27 |
05/13 | 598.81 | 608.31 | 662.59 | 519.16 |
06/13 | 577.25 | 630.51 | 680.52 | 489.10 |
07/13 | 664.03 | 685.36 | 703.73 | 592.16 |
08/13 | 665.21 | 697.44 | 722.47 | 595.65 |
09/13 | 647.06 | 691.84 | 723.16 | 543.60 |
10/13 | 592.41 | 655.54 | 713.92 | 483.77 |
11/13 | 511.65 | 620.13 | 711.21 | 413.23 |
12/13 | 524.69 | 655.42 | 740.65 | 394.48 |
01/14 | 561.87 | 651.27 | 735.43 | 452.06 |
02/14 | 665.35 | 699.89 | 756.56 | 566.93 |
03/14 | 655.67 | 701.90 | 752.47 | 554.81 |
04/14 | 647.62 | 704.92 | 747.57 | 550.77 |
05/14 | 652.85 | 697.62 | 748.13 | 566.87 |
06/14 | 665.50 | 715.93 | 762.22 | 589.57 |
07/14 | 629.45 | 690.70 | 730.08 | 558.81 |
08/14 | 606.25 | 660.32 | 710.46 | 507.84 |
09/14 | 608.92 | 644.03 | 681.65 | 515.00 |
10/14 | 551.84 | 594.78 | 621.20 | 497.90 |
11/14 | 474.20 | 540.12 | 569.75 | 447.90 |
12/14 | 378.11 | 430.68 | 459.36 | 313.77 |
01/15 | 304.92 | 359.85 | 377.71 | 232.32 |
02/15 | 350.67 | 399.16 | 461.37 | 287.18 |
March 6, 2015 | 354.17 | 396.42 | 474.00 | 284.72 |
March 13, 2015 | 338.27 | 380.67 | 453.95 | 265.10 |
March 20, 2015 | 248.04 | 354.94 | 436.51 | 245.17 |
March 27, 2015 | 278.92 | 384.98 | 445.82 | 282.77 |
Sources: NRCan
Crude Oil Types | Week Ending: 2015-03-27 |
Change From: Previous Week |
Change From: Last Year |
|||
---|---|---|---|---|---|---|
$Can/ m3 |
$US/ bbl |
$Can/ m3 |
$US/ bbl |
$Can/ m3 |
$US/ bbl |
|
Canadian Light | 349.15 | 44.34 | +33.46 | +4.91 | -294.89 | -47.64 |
WTI | 384.98 | 48.89 | +30.03 | +4.56 | 309.95 | -51.58 |
Brent | 445.82 | 56.62 | +9.31 | +2.10 | -299.98 | -51.21 |
WCS | 282.77 | 35.91 | +37.60 | +5.29 | -271.56 | -43.71 |
Source: NRCan
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