Average Diesel Cost Unchanged, Still Lowest in Years

LONDON, ON and WASHINGTON, D.C. — The national average cost of diesel has paused from its recent string of declines while gasoline has moved lower over the past week in Canada.

The petroleum information services provider The Kent Group reports diesel is at $1.05 per liter for the second consecutive week after falling for eight straight weeks and hitting its lowest level since November 2010. 

Compared to this week a year ago the price $0.242 less.

Not surprisingly, prices varied little if any in the different regions of Canada from last week with the Atlantic provinces this week recording an average of $1.025 per liter, Quebec at $1.097, Ontario at $1.026 and the Western Provinces at $1.065.

In contrast, the national average cost of regular grade gasoline fell $0.047 this week to $1.141 per liter, following an increase last week. This is its lowest price in a little more than three months and is down $0.18 from the same time in 2014.

In the four main regions of the country, it ranges from an average of $1.088 in Ontario to $1.186 per liter in the Western Provinces.

Meantime, in the U.S. the average cost of diesel continues falling, recording its 13th consecutive weekly drop and coming in at US$2.561 per gallon, according to the country’s Energy Department.

This latest round of drops total US$0.353 since they began in May, while the current average cost is the lowest since October 2009 and down US$1.26 from this same week last year.

Regular grade gasoline nearly reversed all of its increase last week, falling US$0.079 to an average of US$2.637 per gallon. Compared to this week last year, the fuel costs US$0.817 less.

All this comes as oil prices remain at their lowest levels in six years or more in both Canada and the U.S. as well as overseas.


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