Episode Details

Oil Prices Surge as Iran-US Conflict Escalates, Hitting Canadian Gas Pumps Hard

The national average gas price in Canada has jumped to one dollar thirty-eight cents per litre, with British Columbia at one dollar sixty-two cents and Prince Edward Island at one dollar fifty-four cents. This increase is due to the recent five-day war between Iran and the US, Israel, and Gulf nations, which has disrupted oil flows through the Strait of Hormuz. Analysts predict further price hikes if oil reaches eighty or one hundred dollars per barrel, potentially adding eight or twenty cents per litre to gas prices. Despite President Trumps predictions of falling prices once fighting stops, the market remains volatile.

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