Petroleum Sales Dip: Impact on Calgary's Energy Landscape

Canada's secondary distributors sold 23.4 billion litres of refined petroleum products in 2024, a 1.9% decrease from the previous year. Motor gasoline accounted for 50.5% of these sales, with diesel fuel oil making up 43.5%. This national decline could signal evolving energy demands and economic shifts, particularly relevant for Calgary’s energy-focused economy.

Locally, several factors may contribute to changing fuel consumption patterns. Calgary Transit reported a significant increase in ridership during 2024, with over 101 million trips recorded, representing a 12% rise from 2023 and surpassing pre-pandemic levels. This surge in public transit use suggests a shift in commuting habits that could reduce personal vehicle fuel demand.

While electric vehicle (EV) adoption in Alberta is growing, with registrations reaching over 14,000 in 2024, the province still lags the national average for EV ownership. Despite this, General Motors noted double-digit growth in EV sales in Alberta, indicating a steady, albeit cautious, transition. Moreover, the reinstatement of Alberta's provincial fuel tax and anticipated federal carbon tax increases in early 2024 likely impacted gasoline prices, potentially influencing consumption decisions.

As Calgary continues its efforts towards economic diversification and sustainable urban development, these trends in refined petroleum sales and local consumption habits will remain key indicators for the city's future energy landscape.