Gas Prices Surge Across Canada Five Cities See Double Digit Increases This Week January 13, 2025January 13, 2025Kathy Hilton Gas prices in Canada surged over the past week, with several cities experiencing significant increases. According to data from Kalibrate, the national average price for regular fuel rose by 1.2 cents per litre between January 2 and January 9, 2025.] Table of ContentsNotable Gas Price IncreasesNational Average and Regional InsightsWhy Are Gas Prices Rising?Investment Opportunities in the Energy SectorThe Role of Data Centres in Energy DemandStay Informed on Weekly Gas Price Updates Notable Gas Price Increases Chicoutimi, Quebec, recorded the highest increase, with gas prices jumping by 16.8 cents per litre. Trois-Rivières, Quebec, and North Bay, Ontario, followed closely with significant gains of 14.6 and 13.1 cents per litre, respectively. Other cities experiencing notable increases include: Gatineau, Quebec: 12.9 cents per litre Peterborough, Ontario: 11.3 cents per litre Sudbury, Ontario: 10.5 cents per litre Sherbrooke, Quebec: 8.8 cents per litre National Average and Regional Insights The national average price for regular fuel increased to 158.9 cents per litre, reflecting a 1.2-cent rise from the previous week. While many cities saw price hikes, some regions, including Vancouver and Kamloops, experienced slight declines. Here are some key city averages (in CAD cents): CityJan. 2Jan. 9ChangeChicoutimi137.6154.4+16.8Trois-Rivières146.1160.7+14.6North Bay138.0151.1+13.1Gatineau139.3152.2+12.9Peterborough141.1152.4+11.3Sudbury138.0148.5+10.5 Why Are Gas Prices Rising? The recent increase in gas prices is linked to robust demand and rising crude oil prices. West Texas Intermediate (WTI) crude reached its highest level in three months, driven by strong near-term demand. While some analysts anticipate that increased oil supply may ease pressure on crude prices later this year, the current trend suggests continued price volatility. Investment Opportunities in the Energy Sector For drivers looking to offset rising fuel costs, investing in oil and gas stocks could be a viable strategy. The energy sector has started 2025 on a strong note, and experts predict that natural gas could emerge as the standout fossil fuel this year. Rob Thummel, Senior Portfolio Manager at Tortoise Capital, emphasized the growing importance of natural gas: “In 2025, the energy sector will be less about barrels of oil and more about billions of cubic feet of natural gas demand as the technology sector intersects with the energy sector.” Ontario Gas Prices Set to Drop on Wednesday as Winter Blend Rolls In: Here’s How Much You Could Save Ontario Extends 5.7-Cent Gas Tax Cut Relief at the Pump Through June 2025 The Role of Data Centres in Energy Demand The International Energy Agency predicts that data centres could consume as much electricity as Japan by 2026, more than doubling their current demand. This increased electricity use is expected to drive up natural gas consumption, further influencing energy markets. Stay Informed on Weekly Gas Price Updates For ongoing updates on gas prices across Canada, follow Yahoo Finance Canada. Below are some notable price changes in key cities: CityJan. 2Jan. 9ChangeHalifax154.2159.7+5.5Gander165.9171.6+5.7Grand Falls165.2171.7+6.5Sault Ste. Marie148.1154.6+6.5 [wtpsw_carousel]
