January 2, 2003

Gasoline prices steady during last nine months of 2002

Toronto, Ontario – Gas prices from April through December were surprisingly steady, dependable, and reliable after bouncing upwards from the lows Canadians enjoyed during the first quarter of the year, according to an analysis by Runzheimer International, the Toronto, Ontario management consulting firm.

In April 2002, Canadians paid, on average, 76.7 cents per litre for self-serve unleaded regular gasoline and 86.1 cents for self-serve unleaded premium. By December, the price for regular and premium had barely budged, moving up only about 2 cents to 78.6 cents and 88.2 cents, respectively.

During that nine-month period from April through December, pump prices varied by only 6 cents, on average, from a low of 76.7 cents in April to a high of 82.6 cents in November.

Earlier in the year, during January, February, and March, prices were relatively low at 66.4 cents, 67.6 cents, and 68 cents per litre, on average, respectively.

“All bets are off as far as future months are concerned,” comments Jim Anderson, Runzheimer consultant and car cost expert. “As they say in the footnote that accompanies your financial statement: ‘Past performance is not predictive of future results.’ As we all know, there is too much volatility and uncertainty in the world today to feel overly confident that a smooth and steady flow of a predictable amount of petroleum worldwide is certain.”

2002 Monthly Canadian average gas prices

Month Self-Serve Unleaded Regular
Self-Serve Unleaded Premium
January 66.4 76.0
February 67.6 77.2
March 68.0 77.5
April 76.7 86.1
May 78.4 87.9
June 77.2 86.6
July 76.9 86.6
August 79.6 88.6
September 79.9 89.1
October 80.7 90.1
November 82.6 92.1
December 78.6 88.2

The price per litre shown above is expressed in Canadian dollars and represents the Canadian national average for self-serve regular and premium unleaded gasoline at service stations nationwide. Prices are gathered during the first three business days of each month. To compare to U.S. prices, 1 gallon = 3.785 litres.

Runzheimer International is the Rochester, Wisconsin-based management consulting firm specializing in travel and living costs, with offices in Toronto, Ontario.

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