Data from the federal government shows that prices at the pump have fallen significantly in recent weeks, with the cost of conventional gasoline falling by more than a fifth across Canada from the highs seen earlier this summer.
Figures from Natural Resources Canada show the average monthly common gas price in Canada fell 22.8% on September 1 to 161.1 cents/litre, down from a yearly high of 208.6 cents/litre. liters in June.
However, the average gas price across Canada remains close to or much higher than it was in January, when the price per liter of gasoline was lowest, at an average of 149.2 cents per liter nationally.
Gas prices have risen significantly throughout much of 2022 and have been a major factor in Canada’s rising inflation rate, partly due to Russian President Vladimir Putin’s war in Ukraine.
The United States has also seen its own downward trend in gas prices in recent times.
But while inflation may have peaked in June, several major banks are anticipating another rate hike this month from the Bank of Canada.
Of the 71 cities with gas prices in data from Natural Resources Canada, all reached their highest monthly peaks in June.
And of those cities, about a third have seen prices fall more than the national average.
These include several major Canadian cities, as well as smaller municipalities throughout Ontario, Alberta, Quebec, and Saskatchewan.
Red Deer, Alta., had the biggest drop at 31.2%, falling to 129.7 cents/liter on September 1 from an average of 188.5 cents/liter in June.
During the same period, Fort St. John, BC, had the smallest change at 10.8%, with gasoline prices falling to 189.9 cents per liter on September 1 from 213 cents per liter in June.
Here are the cities that saw above-average gas price drops between June and September 1:
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Canada (22.8%)
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Barrie, Ont. (26.4%)
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Brantford, Ont. (26.1%)
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Calgary (23.9%)
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Edmonton (26%)
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Gatineau, Que. (22.9%)
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Guelph, Ont. (26.2%)
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Hamilton, Ont. (26.3%)
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Kingston, Ont. (25.6%)
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Kitchener, Ont. (26.2%)
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Lloydminster, Alta./Sask. (24.8%)
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London, Ont. (26.4%)
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North Bay, Ont. (25.7%)
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Oshawa, Ont. (26.4%)
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Ottawa (26.3%)
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Peterborough, Ont. (25.9%)
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Red deer, Alta. (31.2%)
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Regina (23.5%)
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Sarnia, Ont. (26.6%)
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Saskatoon (26.4%)
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Sault Ste. Marie, Ont. (25.3%)
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St. Catharines, Ont. (25.9%)
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Thunder Bay, Ont. (24.8%)
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Toronto (25.7%)
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Windsor, Ont. (26%)
With files from the Canadian Press and the United Press
