Diesel Rack Prices Highest Since 2008
TORONTO, ON — The Canadian average weekly rack price for diesel broke the three digit mark this week, coming in at 102.6 cents per litre, with the monthly average for January sitting just below the 100 cents at 98.8 cents. Truckers haven’t seen diesel prices break the 100-cent per litre mark since mid-2008, according to the Ontario Trucking Association (OTA).
The Canadian average is calculated from the averages of the following locations: Charlottetown, Saint John, Halifax, Quebec City, Montreal, Maitland, Ottawa, Toronto, Hamilton, London, Sarnia, Nanticoke, Thunder Bay, Sault Ste. Marie, Winnipeg, Regina, Calgary, Edmonton, Kamloops, Vancouver and Nanaimo.
The trend continued across the province of Ontario, the association stated, where the average weekly rack price was 101.1 cents per litre before tax.
OTA calculates the average cost by taking the rack price of diesel in nine locations (Maitland, Ottawa, Toronto, Hamilton, London, Sarnia, Nanticoke, Thunder Bay, and Sault Ste. Marie) to provide an average for the province. On the first data point (first week of April 2009), the average diesel rack price for these locations was 53.59 cents per litre. It has nearly doubled since then.
While some individual locations in Ontario, such as Thunder Bay, surpassed the 100-cents per litre mark previously, this is the first time the average of these nine locations has broken this mark since 2008.