Petrol and Diesel Fuel Prices in Canada

The majority of fuel is produced from the WCSB – the Western Canadian Sedimentary Basin which holds one of the largest (world’s third largest) reserves of natural gas and petroleum supplying most of North America. Canada has 18 of its own refineries which produces nearly two million barrels of oil per day. However, Canada still imports oil from suppliers abroad such as Saudi Arabis the U.S.

The price of fuel is influenced along with World Factors but there are several tax levies imposed both by provincial and federal bodies. The government of Canada does not regulate prices in Canada except for emergency situations. The Federal Carbon tax adds 11 cents to the cost of each litre of gas (as in August 2022). Vancouver in Canada is the province with the highest tax – 38% of the total charge being comprised of taxes.