Pump, wholesale and spot

LiveGasPrices

litres

Today's gas and diesel prices by city, and whether to fill up now or wait

Gasoline
Surrey, BC
Half a tank left. Fill up today, or wait a couple of days?
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$0.00

Wholesale spot
n/a
Wholesale gasoline futures, the cost the pump follows in about two days.

Wholesale spot, next 7 days

Recent spot Projection Likely range

Front-month wholesale gasoline (RBOB) or diesel (ULSD) futures in USD per gallon, the cost the pump follows in about two days. The dotted line carries recent momentum forward and fades it toward flat; wholesale is the front of the market, so it is shown as a widening range, not a precise forecast.

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Where your pump price comes from

Every litre at the pump is crude oil, plus the refining margin, plus distribution and marketing, plus tax. Crude is usually the biggest single piece. Taxes are the most predictable piece, because they are set by law rather than by the market.

The forecast model

Retail follows wholesale with a short lag. On this city's own weekly history we fit an error correction model: how much of this week's and last week's wholesale move passes through to the pump, and how fast the pump closes any gap to where wholesale says it should sit. U.S. cities lean on it for the call; Canadian cities use the daily model described at the bottom of this panel.

How fast prices react

Pumps tend to rise faster than they fall, the so called rockets and feathers effect. We fit a separate pass through for wholesale increases and decreases to measure it.

If crude moves, where does the pump go next week

We map a change in the crude benchmark your region follows through the fitted crude to wholesale to retail chain. This is a what if, not a crude forecast, since no one can reliably predict oil.

History: pump versus wholesale

The pump line trails the wholesale line. That gap, and how it swings around its usual size, is the basis of the short term forecast.

Pump Wholesale

How we built this, in plain terms

The verdict answers one question: over the next day or two, is the pump in your city more likely to rise or fall, and by about how much? It is built entirely from public data. Natural Resources Canada surveys Canadian city averages every business day and splits each price into taxes, the retail margin and the wholesale cost behind it. The U.S. Energy Information Administration surveys U.S. prices once a week. Wholesale gasoline and diesel futures, crude oil (West Texas Intermediate and Brent) and the U.S. to Canadian dollar exchange rate update every trading day.

For Canadian cities, two signals do most of the work. The first is the last trading day's wholesale move: about half of it reaches the pump within two days. The second is where stations sit against their own usual margin over Natural Resources Canada's wholesale figure. A margin squeezed below its six week median usually gets restored within a day or two, and a fat one tends to bleed back; for gasoline this is the single strongest predictor we found. Nova Scotia, New Brunswick and Prince Edward Island set prices on a fixed schedule, so the gasoline call there is timed to the next scheduled change, and diesel follows the average wholesale price since the last reset. In the territories, where prices rarely move, the call is scaled down, and known tax changes, such as the federal fuel excise coming back in 2027, are added on the day they take effect. We say fill up when the expected rise is at least 1% of the price and wait when the expected drop is at least 0.6%.

We fitted the weights on 40 Canadian cities using only May and June 2026, then tested them on July to September, months they had never seen, scoring each call against the city survey two business days later. A call counted as right when the pump moved at least a quarter of a percent the way we said. Fill up or wait calls were right 74% of the time for gasoline and 77% for diesel and went the wrong way 14% and 7% of the time, against 52% and 64% right for the method we used before. Calls marked High confidence were right close to 9 times in 10. The strip under the verdict replays the same code over your own city's recent surveys, so you can see how it has been doing where you live.

U.S. prices are surveyed only weekly, so there the call rolls the latest survey forward by what wholesale has done since: crude on the benchmark your region follows (Brent for the East Coast, West Texas Intermediate elsewhere) and the refining margin, taken as a short median so a futures roll or a one day glitch cannot swing the call, each scaled by how much of a wholesale move reaches the pump in that city's own history. A short forward look adds the recent trend, including your region's spot price where one is published, a pull back toward normal when gasoline is unusually cheap or rich against crude, and a small upside nudge when current news points to a North American refinery disruption. If a Canadian survey is ever delayed, the page switches to this roll forward and says so. Every figure is a city average rather than the price at a particular station, and no model can see a sudden refinery outage or policy change coming.