With the Canadian dollar above par and generally lower prices in the U.S. Canadians are looking south of the border for deals on just about everything, and gas is no exception.

We decided to see if gas really is cheaper in the U.S., and how much you can actually save by filling up across the border.

As of today, the average price of gas in Canada was about $1.32 per liter CAD, and the average price of gas in the United States was about $3.92 per gallon USD. To compare apples to apples, we need to convert liters to gallons and account for the exchange rate.

Converting Liters to Gallons

1 Gallon = 3.78541178 Liters, so, we multiply $1.32 by 3.78541178 to find that a gallon of gasoline in Canada costs $5.00.

The Exchange Rate

The current exchange rate of $1.055 U.S. dollars for $1 Canadian dollar would also provide Canadian’s with a 5.5% discount on the price of gas in the United States, meaning that a gallon of gas in the United States would only cost Canadians $3.71 per gallon.

The Bottom Line

Taking into account the exchange rate, 1 gallon of gas in Canada costs about $5.00, while 1 gallon of gas in the United States costs $3.71, a savings of more than 25%! Keep in mind that these are average prices that may vary by city, but if you are close to the U.S. border, it can definitely be worth the drive south to fill up on gas.