Canadians preparing for the Easter long weekend face rising gas prices amid ongoing tensions linked to the Iran war.
Petroleum analyst Patrick De Haan of GasBuddy noted a sharp 10 percent increase in oil prices, which is expected to push gas prices even higher over the weekend. The national average sits at $1.80 per litre, up nearly nine cents in one week.
Diesel prices may hit a new record, potentially exceeding $2.25 within 48 hours. Jet fuel costs have nearly doubled, increasing air travel expenses.
Regional data from February shows lower prices across most provinces, but recent geopolitical turmoil has reversed those trends. Coastal regions such as British Columbia, Quebec, and the Maritimes are seeing sharper increases compared to inland areas like Alberta, where lower taxes and reduced export competition keep prices relatively stable.
De Haan emphasized that unless shipping routes through the Strait of Hormuz reopen, energy prices will remain volatile. Despite Canada's non-involvement stance, the ripple effects of the crisis continue to impact domestic markets.
"This is very problematic, and it will continue to be problematic," De Haan warned.
