Planning a road trip or generally moving from one place to another with a car in Canada can be quite expensive if Gas is not well budgeted for. The cost of gas in Canada is quite affordable compared to other countries if evaluated critically. Canada offers a wide variety of retailer to purchase from depending on your location.
Just like the body cannot function without the brain, the same can be said for cars that are without engines. Gas, or gasoline or petrol is a commonly used product all over the world.
It is a petroleum-derived combustible liquid primarily used as fuels in engines. It is made from crude oil that has been processed in a refinery. No doubt, Gasoline is very important in our day-to-day transition from one place to another.
Canada is the world’s fifth-largest producer of oil with an average production of 5.27 million barrels per day. This accounts for 5% of global production. Canada’s main sources of oil production are:
- The Oil Sands of Alberta
- Western Canada Sedimentary Basin
- Atlantic Offshore Fields.
Currently, in Canada, Ontario and Quebec account for 60% of the gasoline consumed. Western provinces consume 32% and 8% is consumed in the Atlantic Province and the North.
Gas Stations in Canada
There different gas stations in Canada you can re-fuel from, some of them include:
- Canadian Tire Petroleum
- Chevron Corporation
- Domo gasoline
- Federated Co-operatives
- Fifth Wheel Truck Shops
- FJ Management
- Gulf Canada
- Husky Energy
- Imperial Oil
- Irving Oil
- Joy Gas Stations
- Mohawk Oil
- North Atlantic Refining
- Nun’s Island Gas Station
- OLCO Petroleum Group
- Parkland Fuel
- Pioneer Energy
- Shell Canada
- Suncor Energy
- Supertest Petroleum
- Wilson Fuel
Parkland Fuel is Canada’s largest gas station owner. It has major holdings in all of the most populous provinces in Canada.
Cost of Gas in Canada
Gas prices all over the world vary and are not constant. The cost of gas in Canada is quite affordable depending on your province and your car – some car uses more gas than others. To save cost-efficiently, you must find a balance between comfort and consumption to save money on your gas budget.
Generally, about half the price of gas is accounted for by the cost of crude oil, 30% is taken by provincial taxes and federal taxes. The rest is refining and marketing cost, transportation cost of gasoline and profit.
The cost of Gas in Canada is as much as in Europe, and 25 to 50% higher in the USA. In Canada, many factors affect the price of gas. Some of them are:
- Demand rate
- Regional conflict
- Refining capacity
- Exchange rate of the U.S dollar
In Canada, retail prices vary according to the size of the town or city. Gasoline prices are generally lower in large cities than in small towns. This is as a result of the larger volume stations in large cities have compared to stations in small cities. Gas price also varies based on:
- The type of gas you are buying
- Taxes in your province
- The type of station
- The selling price of the station
- The location of the station.
Canada’s retail gas market is governed by the law of the country under the Federal Competition Act and Emergencies Act.
Gas Prices in Canada By Province
Newfoundland and Labrador
Prince Edward Island
Currently, in Canada, British Columbia has the highest rate of gas per litre, followed by Newfoundland and Labrador, Quebec. The price is average in provinces like Saskatchewan, and Ontario. Nova Scotia and Alberta currently have the lowest gas price per litre in Canada.
There are other alternatives to gas available in Canada, they are:
- Natural gas
- Fuel Cells