Pump Prices Increase

After falling for six weeks in a row, retail gasoline prices in Ontario rose over the past two weeks. The Ontarioaverage pump price on March 7 was 89.2 cents per litre,
4.7 cents per litre higher than it was on February 21. Prices rose in all Ontario survey markets except in Sault Ste. Marie where they fell modestly. Increases ranged from around 1 cent per litre in Toronto to more than 10 cents per litre in St. Catharines and Thunder Bay. The higher retail prices were a reflection the end of price wars in some markets and recent increases in wholesale gasoline prices. Rack prices in Ontario jumped up almost 7.0 cents per litre since February 14.

Pump prices also rose in other regions across the country, responding to recent increases in wholesale prices. Rack prices across Canada have been trending higher since the middle of February, jumping up 7.2 cents per litre on average since February 14. Lagging the increase in wholesale prices, retail prices continued to decline the week of February 21, but jumped higher over the past two weeks. On March 7, the Canadaaverage pump price was 91.3 cents per litre, 4.8 cents
per litre higher than it was two weeks ago.

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