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.

Crude Oil rose to 65.19 USD/Bbl on September 26, 2025, up 0.32% from the previous day. Over the past month, Crude Oil's price has risen 1.62%, but it is still 4.39% lower than a year ago, 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.

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.

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.

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.

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.

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.

Supply and disposition characteristics such as production (fuels include heavy crude, synthetic crude, etc.), input to refineries, exports and others. The data are available at the national and provincial levels. Not all combinations necessarily have data for all years.

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.

Crude Oil Production in Canada decreased to 4420 BBL/D/1K in May from 4839 BBL/D/1K in April of 2025. This dataset provides the latest reported value for - Canada Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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

Canada has abundant resources of crude oil, with an estimated remaining ultimate potential of 52.3 106m³ (329 billion barrels) as of December 2017. Of this, oil sands account for 92 per cent. There are two major producing areas in Canada, the Western Canada Sedimentary Basin, which includes Alberta, Saskatchewan and parts of British Columbia and Manitoba, and offshore eastern Canada. Oil is also produced in modest volumes in Ontario and the Northwest Territories. Although Canada was the 4th largest producer in the world in 2018, it produces only about five per cent of total daily production, so it does not have a major influence on the world oil prices. In 2018, 96 per cent of Canadian crude exports went to the U.S. The Canada Energy Regulator regulates the export of crude oil. Holders of export authorizations report monthly statistics on export activities. This dataset provides historical export volumes of crude oil (by year and month), and by either type of oil or by destination of export.

GDP Nowcast: saar: YoY: Contribution: Energy: Crude Oil Price: Avg: Western Canada Select Hardisty data was reported at 0.000 % in 12 May 2025. This stayed constant from the previous number of 0.000 % for 05 May 2025. GDP Nowcast: saar: YoY: Contribution: Energy: Crude Oil Price: Avg: Western Canada Select Hardisty data is updated weekly, averaging 0.000 % from Jan 2019 (Median) to 12 May 2025, with 332 observations. The data reached an all-time high of 8.406 % in 21 Oct 2019 and a record low of 0.000 % in 12 May 2025. GDP Nowcast: saar: YoY: Contribution: Energy: Crude Oil Price: Avg: Western Canada Select Hardisty data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Canada – Table CA.CEIC.NC: CEIC Nowcast: Gross Domestic Product (GDP).

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.

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.

View monthly updates and historical trends for Canada Average Retail Price of Cooking or Salad Oil. Source: Statistics Canada. Track economic data with YC…

The Canadian Crude Index price refers to the benchmark price for various types of crude oil produced in Canada. This article explains the different components of the index, including Western Canada Select, Canadian Light Sweet, and Synthetic Crude Oil. It discusses the factors that influence the index price and its importance in the Canadian oil industry. Additionally, it highlights how the index is used for financial contracts and decision making in the industry.