On October 23, 2026, the Financial Post took up a question from truckers and farmers it described as paying record diesel prices: if Canada produces so much oil, why not refine more diesel at home?
Canada produced a record 5.35 million barrels of crude a day in 2025, and about four million barrels a day went to the United States, the report said. Sixteen refineries processed about 1.6 million barrels a day and ran at 90% of capacity, according to the Canada Energy Regulator. The country uses about 830,000 barrels of gasoline a day, and the regulator says Canadian plants already supply most of the gasoline, diesel, and jet fuel consumed domestically.
Analyst Patrick O'Rourke said the source of that fuel still depends on the region. In large parts of British Columbia, Ontario, and Atlantic Canada, fuel from a U.S. refinery can be the practical supply because no Canadian plant is nearby. He said margins were thin for years, while Gulf Coast and Midwest refineries were already built to run Alberta heavy crude. Kevin Birn of S&P Global said crude is easier to ship than refined products. The report announced no new refinery and no diesel price cut.
Does Canada's crude supply mean a new refinery will cut diesel prices? No project and no price cut were announced. The October 23 account says existing plants are already near full use, while a new one would compete with refineries that are already paid for.