In July 2025, the average monthly price of the Canadian oil benchmark Western Canadian Select amounted to ***** U.S. dollars per barrel. This was a slight increase compared to the previous month. Western Canadian Select is a heavy sour blend of crude oil, produced exclusively in Western Canada. The importance of Canada’s oil sands Not only are the oil sands a vital part of the Canadian energy industry, they play a large part in the national economy as well. In 2024, the oil sands extraction industry contributed nearly 40 billion Canadian dollars to Canada's GDP. This represented a share of **** percent of the total GDP. Furthermore, they are the largest single source of oil exports to their neighbors to the south, the United States. Oil sands are a combination of sand, water, and bitumen, and therefore a more expensive source of crude oil than conventional oil as oil sands require extensive processing. Meanwhile, that same year the contribution of conventional crude oil and gas extraction stood at **** billion Canadian dollars, which translated to **** percent of total GDP. Canada’s main oil export partner remains the U.S. In 2024, Canada’s oil exports amounted to over *** million barrels per day. This was a historical high and represented more than twice the amount exported in 2005 thanks to oil sand exploration. The United States is Canada’s main oil destination market, receiving *** million metric tons in 2024. Far in second place came China, with *** million metric tons exported there that same year.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

The price for one barrel of oil exported from Canada stood at an average of ***** U.S. dollars in 2024. This was a decrease of some ** U.S. dollars compared to 2022. These figures also closely mirrored Canada's benchmark WCS oil price.

Crude Oil: Avg Price: Western Canada Select Hardisty data was reported at 340.390 CAD/Cub m in 27 Aug 2018. This records a decrease from the previous number of 343.420 CAD/Cub m for 24 Aug 2018. Crude Oil: Avg Price: Western Canada Select Hardisty data is updated daily, averaging 308.695 CAD/Cub m from Jan 2014 (Median) to 27 Aug 2018, with 1214 observations. The data reached an all-time high of 594.090 CAD/Cub m in 20 Jun 2014 and a record low of 121.290 CAD/Cub m in 10 Feb 2016. Crude Oil: Avg Price: Western Canada Select Hardisty data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Daily Database’s Commodity Prices and Futures – Table CA.DP001: Average Price: Crude Oil.

United States Crude Oil Price: EIA: Landed Cost of Imports: Canada data was reported at 57.310 USD/Barrel in Aug 2018. This records a decrease from the previous number of 59.000 USD/Barrel for Jul 2018. United States Crude Oil Price: EIA: Landed Cost of Imports: Canada data is updated monthly, averaging 25.060 USD/Barrel from Oct 1973 (Median) to Aug 2018, with 539 observations. The data reached an all-time high of 122.830 USD/Barrel in Jul 2008 and a record low of 4.820 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: Landed Cost of Imports: Canada data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.

Crude Oil fell to 62.27 USD/Bbl on September 22, 2025, down 0.21% from the previous day. Over the past month, Crude Oil's price has fallen 3.91%, and is down 11.51% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on September of 2025.

Avg Price: Crude Oil: Western Canada Select Hardisty data was reported at 392.060 CAD/Cub m in Jul 2018. This records an increase from the previous number of 387.380 CAD/Cub m for Jun 2018. Avg Price: Crude Oil: Western Canada Select Hardisty data is updated monthly, averaging 306.860 CAD/Cub m from Jan 2014 (Median) to Jul 2018, with 55 observations. The data reached an all-time high of 584.040 CAD/Cub m in Jun 2014 and a record low of 153.130 CAD/Cub m in Feb 2016. Avg Price: Crude Oil: Western Canada Select Hardisty data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Global Database’s Canada – Table CA.P001: Average Price: Crude Oil.

China Import Price: Crude Oil: North America: Canada data was reported at 491.111 USD/Ton in Mar 2025. This records a decrease from the previous number of 502.688 USD/Ton for Feb 2025. China Import Price: Crude Oil: North America: Canada data is updated monthly, averaging 496.292 USD/Ton from May 2008 (Median) to Mar 2025, with 132 observations. The data reached an all-time high of 40,000.000 USD/Ton in Nov 2017 and a record low of 198.927 USD/Ton in Apr 2020. China Import Price: Crude Oil: North America: Canada data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

The average domestic heating oil price in Canada reached about 902 Canadian dollars per 1,000 liters in April 2020. Drops in prices over early 2020 is likely due to the coronavirus lockdowns. There are three types of middle distillate fuel oils that can be used for liquid-fuel-burning equipment without any preheating, and three other types that require preheating as they contain residual fuel components. There are both federal and provincial regulations that are applicable to heating oils in Canada, including the Canadian Environmental Protection Act.

Oil vs natural gas heating

Most houses in North America use a central furnace for space heating. In gas or oil fueled furnaces, the fuel is mixed with air and burned. However, most of Canada’s residential space heating is fueled by natural gas, especially as many new homeowners switch out oil heat furnaces in favor of natural gas equipment. Despite the common transition towards natural gas, heating oil tends to burn hotter than natural gas and thus, efficiently heats spaces in a much shorter time. Oil furnaces tend to last much longer than natural gas furnaces.

On December 19, 2022, WCS prices closed at ***** U.S. dollars per barrel. This was an increase compared to the previous week. Crude oil prices reached over 100 U.S. dollars on March 7 and May 16, following concerns by market traders over tight supplies as a result of the Russia-Ukraine war. Western Canadian Select is the main benchmark for crude oil produced from oil sands in Alberta. It usually trades at around ** U.S. dollars below WTI - which is the reference price for crude oil originating in the United States.

The average refined rapeseed oil export price stood at $1,191 per ton in February 2025, waning by -2.8% against the previous month.

Avg Price: Crude Oil: Canada Light Sweet Edmonton data was reported at 536.770 CAD/Cub m in Jul 2018. This records an increase from the previous number of 496.160 CAD/Cub m for Jun 2018. Avg Price: Crude Oil: Canada Light Sweet Edmonton data is updated monthly, averaging 411.620 CAD/Cub m from Sep 2016 (Median) to Jul 2018, with 23 observations. The data reached an all-time high of 536.770 CAD/Cub m in Jul 2018 and a record low of 350.620 CAD/Cub m in Sep 2016. Avg Price: Crude Oil: Canada Light Sweet Edmonton data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Global Database’s Canada – Table CA.P001: Average Price: Crude Oil.

In September 2022, the crude rapeseed oil price stood at $2,236 per ton (FOB, Canada), with an increase of 36% against the previous month.

The Western Canadian Select (WCS) oil price has experienced significant fluctuations over the past two decades, reflecting the volatile nature of global oil markets. In 2024, the annual average WCS oil price reached ***** U.S. dollars per barrel, a slight increase from the previous year. This price movement is part of a broader trend in the oil industry, where prices have been influenced by various economic and geopolitical factors. What impacts oil prices? Oil prices have been on a rollercoaster ride since the early 2000s, with dramatic fluctuations observed in OPEC Reference Basket oils. For instance, the Saharan Blend from Algeria saw its price rise from about ** U.S. dollars per barrel in 2002 to over *** U.S. dollars a decade later, before settling at ***** U.S. dollars in 2023. These price swings have been driven by major events such as the 2008 global financial crisis, the 2020 coronavirus pandemic, and the 2022 energy supply crisis following the Russia-Ukraine war. The volatility in oil prices has had far-reaching impacts on global economies and energy markets as they impact manufacturers and consumers. How regionally important crudes can influence the global economy While WCS prices reflect trends in the North American market, other regional benchmarks provide insights into global oil dynamics. For example, Dubai Crude (Fateh), an important benchmark for Asia, averaged ***** U.S. dollars per barrel in 2023, down from ***** U.S. dollars the previous year. Similarly, Russia's Urals crude oil, a major export brand, saw its price fluctuate in response to global events and policy decisions, such as the price cap imposed by the G7, EU, and Australia in December 2022. These regional variations highlight the complex interplay of supply, demand, and geopolitical factors in shaping global oil prices.

Prices in US dollars per barrel of WCS oil and in Canadian dollars per gigajoule of natural gas.

U.S. imports of Canadian oil—a heavy sour crude—have doubled over the past two decades. Most of this oil is sent to Midwest refineries that specialize in processing heavy sour crude. These refineries have limited flexibility to substitute other types of crude without incurring the cost of switching equipment. As a result, higher prices for Canadian crude, including from tariffs, could lead Midwest consumers to pay higher prices on refined petroleum products such as gasoline, holding other factors constant.

This statistic shows the breakeven prices for Canadian and U.S. oil sands from selected projects, as of 2015. The Bakken project in Saskatchewan provides the best breakeven price deal with ***** U.S. dollars per barrel, while the Eagle Ford project in Texas produces oil sands at a breakeven price of ***** U.S. dollars per barrel.

Avg Retail Price: Diesel Fuel: British Columbia: Vancouver data was reported at 190.300 0.01 CAD/l in Mar 2025. This records a decrease from the previous number of 192.300 0.01 CAD/l for Feb 2025. Avg Retail Price: Diesel Fuel: British Columbia: Vancouver data is updated monthly, averaging 100.100 0.01 CAD/l from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 250.100 0.01 CAD/l in Jun 2022 and a record low of 45.500 0.01 CAD/l in Mar 1990. Avg Retail Price: Diesel Fuel: British Columbia: Vancouver data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P015: Fuel Oil Price at Self Service Filling Stations. [COVID-19-IMPACT]

Soybean Oil Price in Canada - 2023. Find the latest marketing data on the IndexBox platform.

Avg Retail Price: Diesel Fuel: Northwest Territories: Yellowknife data was reported at 179.900 0.01 CAD/l in Mar 2025. This stayed constant from the previous number of 179.900 0.01 CAD/l for Feb 2025. Avg Retail Price: Diesel Fuel: Northwest Territories: Yellowknife data is updated monthly, averaging 102.200 0.01 CAD/l from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 216.900 0.01 CAD/l in Jul 2022 and a record low of 52.900 0.01 CAD/l in Mar 1990. Avg Retail Price: Diesel Fuel: Northwest Territories: Yellowknife data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P015: Fuel Oil Price at Self Service Filling Stations. [COVID-19-IMPACT]