Canadians are experiencing rising fuel prices, with the national average reaching 150 cents per litre, up nearly 20 cents from the previous week, primarily due to escalating tensions in the Middle East. The conflict, which intensified following attacks involving Israel, the U.S., and Iran, has disrupted oil tanker traffic in the Strait of Hormuz, causing U.S. crude oil prices to hit a two-year high above $90 per barrel. Analysts predict that high prices could persist for weeks, even if the conflict eases, as historical trends indicate that price disruptions often outlast conflicts.
Want More Context? 🔎
Loading PerspectiveSplit analysis...
