OTTAWA, ON – The price of petroleum dropped again in the third quarter of 2017 reports Statistics Canada.
The federal agency released the unadjusted Wholesale Services Price Index for the middle of last year, showing the change in the price of wholesale services quarter to quarter for the country.
Petroleum products dropped by 13.9% from the second quarter, but remained 50% higher over the same period in 2016.
While petroleum took a dive, parts were higher for the quarter with both motor vehicles and parts and accessories, and machinery, equipment and supplies reporting a jump by more than 2% for the quarter.
The rise in prices brought the categories into line with 2016 pricing, with a less than 1% difference between the third quarter of 2017 and the same period the year before.
The total index, which covers eight categories, was down quarter to quarter by 0.9%, but was up by 3.9% over the same time in 2016.
The price index reflects the unadjusted margin prices, which is the difference between the wholesale price and the average purchase price in each category.