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Gas price expert: Trump has 'costly' option to shut Canadian oil out of U.S. refineriesン
Gas price expert: Trump has 'costly' option to shut Canadian oil out of U.S. refineries
President Donald Trump holds up a signed executive order regarding cryptocurrency in the Oval Office of the White House, Thursday, Jan. 23, 2025, in Washington. (AP Photo/Ben Curtis)
Trump's threat to impose an up to 25 per cent tariff on Canadian goods casts uncertainty over the long-term trend for gas prices. (AP Photo/Ben Curtis) · ASSOCIATED PRESS

Gas prices fell on average across most Canadian cities over the past week, dropping 1.8 cents per litre of regular fuel, according to data from Kalibrate.

The slight relief at the pumps follows four straight weeks of rising prices.

Fort St. John, B.C. saw the biggest increase between Jan. 16 and Jan. 23, adding 12.8 cents per litre, followed by Timmins, Ont., and Peterborough, Ont. The biggest discount this week was in Edmonton.

Gas prices were up 3.5 per cent year-over-year in December, according to consumer price index data released on Tuesday. On a monthly basis, Statistics Canada says gas prices fell 0.6 per cent. Looking back to November, the agency says retail sales at gas stations increased 0.7 per cent, the first positive print since last April.

U.S. President Donald Trump's standing threat to impose an up to 25 per cent tariff on Canadian goods continues to cast uncertainty over the long-term trend for gas prices on both sides of the border. The tariff is due to include a key grade of Canadian crude needed at major U.S. Midwest refineries.

En-Pro International chief petroleum analyst Roger McKnight says these facilities would have to replace 600 million litres per day with supply that has the same chemical formulation as Western Canadian Select (WCS).

"As there are no pipelines to bring crude up from the Gulf, all refined products (gasoline and diesel) will have to be brought in by rail or by tanker truck, the costs of which are astronomically higher than by pipeline," he wrote in a recent blog post.

McKnight says Trump could order a retooling of all refineries that only process WCS.

"It may be costly but if forced to, the Americans can do it, and fast," he added. "If a reconfiguration were to allow U.S. shale oil to be the only refinery input product, then any imports of any crude from anywhere would not be needed because the U.S. is the largest crude oil producer on the planet. If this were to happen, Canada’s only crude oil customer will be just a footnote in the history books."

According to the Canada Energy Regulator, over 97 per cent of Canadian crude oil exports were destined for the U.S. in 2023.

Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.

(All figures in CAD cents)

Location

Jan. 16

Jan. 23

Price Change

Canada Average (V)

162.1

160.3

-1.8

WHITEHORSE

179.9

179.9

0

VANCOUVER*

184.2

182

-2.2

VICTORIA

179.9

179.9

0

PRINCE GEORGE

161.9

162.6

0.7

KAMLOOPS

167.3

167

-0.3

KELOWNA

168.6

167.1

-1.5

FORT ST. JOHN

158.9

171.7

12.8

ABBOTSFORD

169.4

164.5

-4.9

YELLOWKNIFE

162.9

162.9

0

CALGARY*

154.9

149.3

-5.6

RED DEER

151.3

149.7

-1.6

EDMONTON

150.5

143.1

-7.4

LETHBRIDGE

142.1

151

8.9

LLOYDMINSTER

145.6

149.9

4.3

GRANDE PRAIRIE

148.3

153.1

4.8

REGINA*

151.8

151.8

0

SASKATOON

151.7

151.9

0.2

PRINCE ALBERT

150.7

150.9

0.2

MOOSE JAW

149.4

151.9

2.5

WINNIPEG *

146.9

155.9

9

BRANDON

137.7

144.4

6.7

CITY OF TORONTO*

157.8

155.8

-2

BRAMPTON

157.5

155.3

-2.2

ETOBICOKE

157

155

-2

MISSISSAUGA

156.7

154.5

-2.2

NORTH YORK

157.9

155.8

-2.1

SCARBOROUGH

157.4

155.2

-2.2

VAUGHAN/MARKHAM

157.6

155.6

-2

OTTAWA

157.3

155.5

-1.8

KINGSTON

151.4

149.7

-1.7

PETERBOROUGH

147.7

156

8.3

WINDSOR

156.3

154.9

-1.4

LONDON

157.3

155.7

-1.6

SUDBURY

151.3

153.4

2.1

SAULT STE MARIE

149.6

149.4

-0.2

THUNDER BAY

160.6

157.5

-3.1

NORTH BAY

169.9

163.3

-6.6

TIMMINS

155.5

167.6

12.1

HAMILTON

156.3

154.1

-2.2

ST. CATHARINES

155.3

153.2

-2.1

BARRIE

156.8

154.4

-2.4

BRANTFORD

151.3

153.2

1.9

GUELPH

156.8

154.3

-2.5

KITCHENER

155.9

153.2

-2.7

OSHAWA

157

155.4

-1.6

SARNIA

153.3

153.9

0.6

MONTRÉAL*

165.7

163.4

-2.3

QUÉBEC

159.1

161.7

2.6

SHERBROOKE

153.9

162

8.1

GASPÉ

162.9

162.7

-0.2

CHICOUTIMI

144.3

143.7

-0.6

RIMOUSKI

159.4

159.4

0

TROIS RIVIÈRES

161.8

161.1

-0.7

DRUMMONDVILLE

153.7

152.7

-1

VAL D'OR

163.7

165.6

1.9

GATINEAU

157.5

151.4

-6.1

SAINT JOHN*

159.6

163.7

4.1

FREDERICTON

160.2

164.1

3.9

MONCTON

160.4

164.4

4

BATHURST

159.9

164.2

4.3

EDMUNDSTON

159.3

163.3

4

MIRAMICHI

161.5

165.5

4

CAMPBELLTON

159.9

163.9

4

SUSSEX

160

164

4

WOODSTOCK

161.4

165.4

4

HALIFAX*

162.9

166.2

3.3

SYDNEY

164.8

168.1

3.3

YARMOUTH

163.9

167.2

3.3

TRURO

164

167.3

3.3

KENTVILLE

163.5

166.7

3.2

NEW GLASGOW

164

167.3

3.3

CHARLOTTETOWN*

175

175

0

ST JOHNS*

170.5

172.9

2.4

GANDER

173.3

175.5

2.2

LABRADOR CITY

177.4

179.6

2.2

CORNER BROOK

171.5

173.7

2.2

GRAND FALLS

172.2

175.5

3.3

Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city.

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