Gas prices across Canada fell noticeably this week, with the national average dropping by 2.4 cents per litre, now sitting at $1.548. This decrease, reported by Kalibrate, reflects broader trends seen across the country as fuel prices fluctuate. Drivers in Peterborough, Ontario, experienced the most significant decline of the week, with gas prices decreasing by 10 cents per litre.
When comparing figures from the previous year, the average price of gas was $1.594 per litre as of March 14, 2024, demonstrating how current prices reflect both market dynamics and seasonal trends.
Regionally, variations are notable. For example, on March 14, 2025, average prices for gas had fine-tuned to about $1.55 per litre across various stations in Nova Scotia, down from previous benchmarks. The drop of approximately two cents per litre came after regulatory changes implemented by the Utility and Review Board, which also saw diesel prices reduce by six cents, now averaging $1.84 per litre.
Meanwhile, the situation is quite different for drivers across P.E.I., where no changes were made to the price of gas as of March 14. The general price for regular self-serve gas there ranges from 161.8 to 163.0 cents per litre, but it was noted by the Island Regulatory and Appeals Commission (IRAC) on March 14, 2025, effective 12:01 a.m.
The fluctuation of fuel prices is intertwined with broader economic factors. The Canadian automotive market reported a sharp decline of 8.2 percent year-over-year with car and truck sales totaling 122,000 units this past February. Andrew King, managing partner of DesRosiers Automotive Consultants (DAC), acknowledged the drop, explaining, "While a decline of 8.2 percent may sound concerning, it should be remembered… February 2024 was easily the strongest February of all time, as finally, a plentiful supply of vehicles was available after 30 months of shortages." This perspective clarifies how the market is responding to previous months of high sales driven by increased availability.
The automotive shift also brings to light issues surrounding battery electric vehicles (BEVs). February 2025 marked the first month without purchase incentives from the federal and Quebec governments, which resulted in plummeting sales across the BEV segment. DAC’s analysts stated, "The collapse in BEV sales was astonishing," highlighting how external incentives directly impacted consumer purchase decisions.
Breaking down the gas prices geographically on March 14, 2025, finds regional differences with varying costs influenced by local suppliers and market competition. For example, at 8:30 am on March 14, gas prices across Arnprior showcased several retailers with prices hovering around $1.43.9 for unleaded gas. Details from Pembroke indicated even similar trends, with prices at various outlets ranging between $1.43.7 and $1.49.9. Conversely, Renfrew saw prices as low as $1.42.3 for the same fuel.
Specifically, Peterborough's average fuel cost was recorded at $1.39.6 just hours earlier at 9:00 am. This spot-check on gas prices across multiple locations serves as a real-time indicator of how gas consumers can benefit from price comparisons.
These figures come about as Canadian consumers continue to navigate fluctuated fuel costs amid economic challenges and changing government policies affecting vehicle sales and environmental incentives. With pressure on consumers from both pricing at the pump and the price of new vehicles, shifts within these markets will continue to be under scrutiny as buying patterns evolve.
Looking forward, officials anticipate continued adjustments and fluctuations based on regional demands and government regulations, with IRAC set to examine pricing strategies again on March 21, 2025. For Canadians, keeping updated on both gas prices and automotive markets will be key as they adapt to these changing environments.