Higher fuel prices tied to Iran war boost March retail sales: Statistics Canada
Statistics Canada reported a 0.9 percent increase in retail sales for March, reaching $72.7 billion, largely driven by higher gas prices. Sales at gas stations surged by 12.4 percent due to rising oil and gas prices linked to the conflict involving Iran. However, core retail sales, excluding fuel and vehicle sales, experienced a slight decline of 0.1 percent during the same period.
- ▪Retail sales in March rose by 0.9 percent to $72.7 billion.
- ▪Sales at gas stations increased by 12.4 percent due to higher oil prices.
- ▪Core retail sales, excluding fuel and vehicle sales, fell by 0.1 percent.
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Open this photo in gallery:A person fills up their car at a gas station in Montreal on March 5, 2026. Higher gas prices boosted overall sales for March.Christopher Katsarov/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountStatistics Canada says retail sales rose 0.9 per cent to $72.7-billion in March as higher gas prices boosted overall sales higher for the month.The agency says sales at gas stations and fuel vendors rose 12.4 per cent as the attack on Iran by the U.S. and Israel drove oil and gas prices higher.
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