Gas prices have increased across most of Canada in response to the war in Iran, but just where they will go depends largely on how long the war lasts.

For example, the Greater Toronto Area has experienced a couple of increases this week of about five cents per litre. In Nova Scotia, the energy price regulator used its interruption formula yesterday to jack up the price of gas by 9 cents per litre. It went up by 7 cents in PEI.

About 20 per cent of the world’s oil supply goes through the Strait of Hormuz, but shipping has been disrupted.

Gas prices spiked four years ago after Russia attacked Ukraine.

The Public Utilities Board sets the maximum price that retailers in Newfoundland and Labrador can charge as of midnight tonight.