Latest news with #gasprice
Yahoo
4 days ago
- Business
- Yahoo
Gas prices: Slipping oil prices fuel summer savings at Canadian pumps
Canada's gas price average fell 2.7 cents per litre over the past week, according to data from Kalibrate. The move lower is largely thanks to falling crude prices in response to fears of an oversupplied market. The biggest discount this week was in Calgary, where the price of a litre of regular gasoline dropped 10.6 cents between August 7 and August 15. At this time last year, Canada's gas price average was $1.678 per litre, compared to $1.452 as of Thursday. "As it stands today, there is a glut of crude oil on the market that is keeping prices down," En-Pro International chief petroleum analyst Roger McKnight wrote in a blog post on Thursday. Earlier this week, a report from the International Energy Agency found global supply could outpace demand by a record 2.96 million barrels per day in 2026, surpassing the buildup during the pandemic lockdown in 2020. At the same time, data from the U.S. Energy Information Administration released on Wednesday showed American stockpiles are at the highest level in two months. Benchmark oil prices drifted lower on Friday as investors await news from U.S. President Donald Trump's summit in Alaska with Russia's Vladimir Putin. Progress towards a deal to end Russia's war in Ukraine would help de-risk the global oil market and support prices. Trump recently increased U.S. tariffs on Indian goods in response to the country's purchases of Russian oil. So far, he has avoided targeting China over its Russian oil purchases. Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city. (All figures in CAD cents) Location August 7 August 14 Price Change Canada Average (V) 145.2 142.5 -2.7 WHITEHORSE 161.9 161.9 0 VANCOUVER* 171.1 168 -3.1 VICTORIA 166.3 171.9 5.6 PRINCE GEORGE 145.6 145.6 0 KAMLOOPS 152.3 150 -2.3 KELOWNA 149 146.3 -2.7 FORT ST. JOHN 149.2 143.4 -5.8 ABBOTSFORD 160.9 157.8 -3.1 YELLOWKNIFE 144.7 146.2 1.5 CALGARY* 137.9 127.3 -10.6 RED DEER 131.8 126.7 -5.1 EDMONTON 133.3 127.9 -5.4 LETHBRIDGE 131 130.7 -0.3 LLOYDMINSTER 130 128.9 -1.1 GRANDE PRAIRIE 131.7 129.1 -2.6 REGINA* 138.4 137.3 -1.1 SASKATOON 129.9 126.9 -3 PRINCE ALBERT 136.2 130.2 -6 MOOSE JAW 137.8 139.9 2.1 WINNIPEG * 137 135.2 -1.8 BRANDON 127.6 126.9 -0.7 CITY OF TORONTO* 135 134.5 -0.5 BRAMPTON 134.5 134.2 -0.3 ETOBICOKE 133.7 133.8 0.1 MISSISSAUGA 132.4 133.1 0.7 NORTH YORK 135.1 134.7 -0.4 SCARBOROUGH 134.1 133.9 -0.2 VAUGHAN/MARKHAM 134.1 134.5 0.4 OTTAWA 134.8 133.3 -1.5 KINGSTON 125.3 125.2 -0.1 PETERBOROUGH 126.9 121.2 -5.7 WINDSOR 131.8 132.3 0.5 LONDON 133.6 134.6 1 SUDBURY 134.2 128.6 -5.6 SAULT STE MARIE 127.6 127.6 0 THUNDER BAY 139.4 133.8 -5.6 NORTH BAY 138.3 133.1 -5.2 TIMMINS 138.6 138.1 -0.5 HAMILTON 131.3 132 0.7 ST. CATHARINES 131.4 130.8 -0.6 BARRIE 135.5 133.6 -1.9 BRANTFORD 134.1 131.4 -2.7 GUELPH 134.8 133.1 -1.7 KITCHENER 132.2 133.3 1.1 OSHAWA 130.3 133.4 3.1 SARNIA 131.2 126.9 -4.3 MONTRÉAL* 158.1 155.5 -2.6 QUÉBEC 151.6 152.8 1.2 SHERBROOKE 149.5 151.3 1.8 GASPÉ 157.7 157.7 0 CHICOUTIMI 140.4 138.6 -1.8 RIMOUSKI 151.4 150.1 -1.3 TROIS RIVIÈRES 154.4 154.3 -0.1 DRUMMONDVILLE 147.8 145.2 -2.6 VAL D'OR 156.7 156.6 -0.1 GATINEAU 142.9 139.1 -3.8 SAINT JOHN* 143 143.6 0.6 FREDERICTON 143.5 144.1 0.6 MONCTON 143.2 143.6 0.4 BATHURST 143.4 143.8 0.4 EDMUNDSTON 142.6 143 0.4 MIRAMICHI 144.9 145.8 0.9 CAMPBELLTON 144.9 145.5 0.6 SUSSEX 143.5 143.7 0.2 WOODSTOCK 144.8 145.4 0.6 HALIFAX* 145.7 146.7 1 SYDNEY 147.6 148.6 1 YARMOUTH 146.7 147.7 1 TRURO 146.8 147.8 1 KENTVILLE 146.3 147.3 1 NEW GLASGOW 146.8 147.8 1 CHARLOTTETOWN* 151.3 150.2 -1.1 ST JOHNS* 151.6 152.2 0.6 GANDER 155.3 155.9 0.6 LABRADOR CITY 158.7 159.4 0.7 CORNER BROOK 152.6 153.3 0.7 GRAND FALLS 155.3 156 0.7 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 X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo
09-08-2025
- Business
- Yahoo
Bonus for the economy: lower oil, gas prices ahead
Bonus for the economy: lower oil, gas prices ahead originally appeared on TheStreet. When it comes to economic reports, that was some week last week. The Federal Reserve didn't cut its key interest rate. The jobs report was weak. Surveys suggested consumers weren't as freaked about the economy as they had been in April. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 The president, however, imposed higher tariffs on goods imported from a number of countries. The stock market engaged in some wild gyrations, ending the week lower, but, at least, bond yields came down. The slump may be short-lived. Futures trading suggests a robust open for stocks In part because there aren't many big economic reports ahead this week, it's a good time to take stock of what's happening in and around the a good chance oil prices are headed lower Maybe you missed this one, but members of the OPEC + countries may boost crude oil production to boost revenue. The operative phrase is "may boost" production. It was clear Saturday but not as clear on Sunday. Brent crude, the global benchmark settled at $69.67 per barrel and has been slowly declining since peaking on Jan. 15 at about $82 a barrel. The 11 OPEC+ members include Russia, Mexico, Oman, Kazakhstan and Malaysia. Assuming output is boosted, global oil prices — and gasoline prices — should come down, just in time for autumn when summer vacations in the northern hemisphere end and drive less. And the result: Prices come down. AAA said Sunday the national average price of gasoline was $3.15 a gallon, off slightly from Saturday and down 9.4% from a year ago. More oil supply on the market won't do much for energy stocks. The Energy Select Sector SPDR exchange-traded fund () is off 9.1% since peaking at $94.21 on April 2. Lots of changes coming at the Fed Donald Trump may seethe every time he sees Jerome Powell speak on television, but he will soon be influencing a big chunk of the seven-member Federal Reserve Board of Governors. Fed governor Adriana Kugler announced Friday she's resigning Aug. 8 to return to a teaching job at Georgetown University after just two years as a Fed board member. So, the president gets to nominate someone more to his liking — that is, cut rates when he says appointed Christopher Waller and Michelle Bowman as Fed governors — as well as Powell. They dissented in the vote not to cut rates last week. Powell, a Republican, was a Barack Obama appointee to the Fed. Trump elevated him to chairman in 2018, replacing Janet Yellen. Joe Biden nominated Powell to a second four-year term in 2021. Powell's term as chairman ends in May. Trump would prefer to replace him sooner. Powell would not support the president's demand for deep cuts to the Fed's key federal funds rate, still at 4.25% to 4.5%. The rate forms the foundation of short-term U.S. interest rates. Potential successors include Kevin Warsh, a former Fed governor; Kevin Hassett, director of the National Economic Council, and, possibly, Treasury Secretary Scott Bessent. Jobs jobs jobs won't go away The furor over the firing of Erika McEntarfer as commissioner of the Bureau of Labor Statistics may take a little time to fade away. The president fired McEntarfer Friday because the BLS issued revisions to earlier jobs reports that drastically cut down how many jobs were created in May and June. The president said McEntarfer rigged the report to make him look bad, but offered no the monthly jobs report is produced could use some clarification. The BLS works on a jobs report three times: when it's issued, and each of the next two months. The two revisions reflect that more data on a given month is collected, and the original numbers are revised. The reason for the revisions is the first report is, at best, a guestimate with data collected from 60,000 businesses and other employers and households by BLS staff by phone and, more lately, online. Go here for a description of the process. Response rates have been falling in recent years from as high as 90% in 2013 to 67% in July. There is a fourth revision in the next year once year-end state tax data is collected and matched up with BLS data. It takes so long to get all the data right because of staffing shortages and the time demands of many employers. And, of course, mistakes are made. McEntarfer was appointed to the job during the Biden Administration and easily won Senate confirmation. The next BLS commissioner will be a Trump loyalist. More Economic and market analysis: Former Federal Reserve official sends bold message on 'regime change' The market decline has not run its course The reports due this week The week after the jobs report sees relatively few economic reports. Here's a rundown of what's coming. Monday: Factory orders, with estimates projecting a decline. Tuesday: U.S. Trade deficit. The estimate is a $61 billion positive. Two reports on services ordered by purchasing managers will come from Standard & Poor's and the Institute for Supply Management. Both are expected to be slightly positive. Wednesday: None. But Fed governor Lisa Cook and Susan Collins, president of the Boston Federal Reserve Bank expected to speak in the afternoon. Thursday: The weekly report on initial jobless claims plus a report on productivity and unit labor costs. All from the BLS. The Federal Reserve's monthly Consumer Credit Outstanding. Bonus for the economy: lower oil, gas prices ahead first appeared on TheStreet on Aug 4, 2025 This story was originally reported by TheStreet on Aug 4, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-07-2025
- Business
- Yahoo
Gas prices in Canada hold flat this week as experts ask, 'Where's the spike?'
Canada's gas price average held steady at $1.444 per litre of regular fuel over the past week, according to data from Kalibrate. That's nearly a 14 per cent discount year over year. North Bay, Ont. and Gatineau, Que. were the most volatile markets this week, with prices falling 8.6 cents per litre in the former, and rising 5.4 cents per litre in the latter. Gas prices were a big factor in this week's inflation reading from Statistics Canada. The federal data agency said the annualized inflation rate rose to 1.9 per cent in June from 1.7 per cent in May. "Headline inflation grew at a faster pace, as gasoline prices fell to a lesser extent in June (-13.4 per cent) than in May (-15.5 per cent)," StatCan wrote on Tuesday. "Year over year, the CPI (consumer price index) excluding energy (+2.7 per cent) remained higher than the CPI in June, partly due to the removal of consumer carbon pricing in April." While the elimination of the consumer-facing carbon tax has cooled typically hot summer gas prices in Canada, analysts in the United States say the summer driving season has been unusually cheap south of the border as well. Researchers at the Energy Policy Research Foundation are asking, "Where's the spike?" "U.S. gasoline prices generally rise substantially with the onset of the summer driving season. However, except for California and the other West Coast states, prices have been generally flat during the summer of 2025, a distinct deviation from historical trends," wrote researchers at the Washington, D.C.-based non-profit. "This is even more surprising given that in the current context demand has not slackened. Vehicle miles traveled continue their upward trend, albeit with improving efficiency, and there are several risk factors that could lead to tight supplies." Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city. (All figures in CAD cents) Location July 10 July 17 Price Change Canada Average (V) 144.4 144.4 0 WHITEHORSE 161.9 161.9 0 VANCOUVER* 167 165.9 -1.1 VICTORIA 159 158.6 -0.4 PRINCE GEORGE 145.6 145.6 0 KAMLOOPS 145.9 145.8 -0.1 KELOWNA 145.7 145.2 -0.5 FORT ST. JOHN 138.4 133.4 -5 ABBOTSFORD 149.7 156.7 7 YELLOWKNIFE 144.7 144.7 0 CALGARY* 133.2 136.7 3.5 RED DEER 130.3 133.8 3.5 EDMONTON 130.2 133.3 3.1 LETHBRIDGE 131.1 131.3 0.2 LLOYDMINSTER 126.5 125.8 -0.7 GRANDE PRAIRIE 130.7 128.9 -1.8 REGINA* 131.8 131.8 0 SASKATOON 134.9 135.3 0.4 PRINCE ALBERT 130.2 128.6 -1.6 MOOSE JAW 135.6 135.6 0 WINNIPEG * 134.9 134.2 -0.7 BRANDON 130.9 128.7 -2.2 CITY OF TORONTO* 137.6 136.6 -1 BRAMPTON 137.4 136.1 -1.3 ETOBICOKE 136.9 136.4 -0.5 MISSISSAUGA 136.4 135.4 -1 NORTH YORK 137.9 136.9 -1 SCARBOROUGH 137.4 136.2 -1.2 VAUGHAN/MARKHAM 137.6 136.3 -1.3 OTTAWA 136 135.6 -0.4 KINGSTON 124.3 128.9 4.6 PETERBOROUGH 126.8 124.9 -1.9 WINDSOR 136.3 135.1 -1.2 LONDON 137.1 135.8 -1.3 SUDBURY 134.4 127 -7.4 SAULT STE MARIE 128.1 127.8 -0.3 THUNDER BAY 131.4 137.2 5.8 NORTH BAY 140.2 131.6 -8.6 TIMMINS 138.8 138.7 -0.1 HAMILTON 135.5 133.8 -1.7 ST. CATHARINES 132.3 133.1 0.8 BARRIE 136.9 135.7 -1.2 BRANTFORD 134.3 134.8 0.5 GUELPH 135.8 135.8 0 KITCHENER 136 135.2 -0.8 OSHAWA 137.1 135.4 -1.7 SARNIA 125.3 129.9 4.6 MONTRÉAL* 158.4 157.6 -0.8 QUÉBEC 150 151.9 1.9 SHERBROOKE 149.5 150 0.5 GASPÉ 157.4 157.4 0 CHICOUTIMI 133.3 138.5 5.2 RIMOUSKI 151.4 151.4 0 TROIS RIVIÈRES 154.4 154.4 0 DRUMMONDVILLE 148.9 148.4 -0.5 VAL D'OR 156.7 156.7 0 GATINEAU 134.5 139.9 5.4 SAINT JOHN* 137.8 139.2 1.4 FREDERICTON 138.3 141 2.7 MONCTON 138.5 141.4 2.9 BATHURST 138.3 138.3 0 EDMUNDSTON 138.1 140.2 2.1 MIRAMICHI 139.6 142.1 2.5 CAMPBELLTON 139.7 142.5 2.8 SUSSEX 138.1 140 1.9 WOODSTOCK 139.6 142.4 2.8 HALIFAX* 140.1 143.6 3.5 SYDNEY 142.3 145.5 3.2 YARMOUTH 141.1 144.6 3.5 TRURO 141.3 144.7 3.4 KENTVILLE 140.7 144.2 3.5 NEW GLASGOW 141.3 144.7 3.4 CHARLOTTETOWN* 145.6 148.5 2.9 ST JOHNS* 147.2 149.8 2.6 GANDER 149.4 153.5 4.1 LABRADOR CITY 154.4 156.9 2.5 CORNER BROOK 148.2 150.8 2.6 GRAND FALLS 148.5 153.5 5 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 X @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
