A fuel price watchdog says the price of gas has gone up about 52 cents a litre across Canada since the United States and Israel launched their war on Iran – and Canadians need to prepare for more price pain ahead.
President of Canadians for Affordable Energy Dan McTeague says other fuels have also skyrocketed in price.
That includes an average increase of about 75 cents a litre for diesel and $1.05 for jet fuel, with no apparent end in sight according to McTeague.
Dan McTeague
He says the disruption affects anything we use, from vessels to trucks and home heating fuel. He says the effects of the war include the “chokehold on the Strait of Hormuz” and Iran’s attacks on neighbouring countries.
He says governments need to recognize that this is going to be a “long term problem.”
McTeague says “the cost of everything is going to go through the roof, and I don’t think it’s going to come down even after, and should we get, by some miracle, some kind of cessation of hostilities there because of the damage that’s been done in that region.”
He says it will be a long time before production gets back online, meaning the “long term will be most difficult.”
