Diesel Prices Reverse Course, Down from Last Week

LONDON, ON and WASHINGTON, D.C. — Diesel prices in both Canada and the U.S. retreated this week after turning higher and hitting some of their highest levels in many weeks.

The national average cost in Canada fell $0.013 to $1.061 per liter, according to the petroleum information services provider The Kent Group, following a hike of $0.033 the week before, its highest price in nearly three months.

With the overall drop, this resulted in price declines in three of Canada’s four main regions, Quebec down $0.004 to an average of $1.138 per liter, Ontario falling $0.016 to $1.031 and the Western Provinces losing $0.017 to $1.061. In contrast, the average price in the Atlantic Provinces gained $0.011 registering $1.112.

Compared to this week a year ago, the national average price of diesel is down $0.254 per liter.

Such a trend was also reflected in the U.S., with trucking’s main fuel down US$0.02 from a week earlier, for a national average of US$2.482 per gallon, according to U.S. Energy Department’s Energy Information Administration. This follows a jump of US$0.017 the week before, its highest level in almost two months.

With this latest weekly decline the average cost is down US$1.179 per gallon compared to this same time in 2014.

Average costs for regular grade gasoline also fell in both Canada and south of the border, with the drop here at home registering $0.046 from last week to $1.048 per liter. When compared with the same time last year gasoline is down $0.114 per liter.

Meantime, in the U.S. gasoline posted a drop of US$0.057 cents for a national average of US$2.178 per gallon, while it’s down US$0.716 from this time last year.

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