Canadian drivers are facing another surge in fuel prices, with the national average reaching $1.91 per litre on Wednesday morning — more than two cents higher than the previous day. According to GasBuddy data, British Columbia recorded the highest average gas prices in the country at $2.12 per litre, followed closely by Newfoundland and Labrador at $2.05 per litre. Even Alberta, traditionally known for lower fuel costs, saw prices rise to $1.81 per litre.
The latest increase comes amid growing global energy instability linked to disruptions in oil shipments through the Strait of Hormuz, one of the world’s most critical oil transit routes. Since the outbreak of the Iran conflict, tanker traffic through the region has faced repeated blockades and interruptions, significantly tightening global oil supply.
The situation became more uncertain after U.S. President Donald Trump paused American naval escort operations for oil tankers moving through the corridor while negotiations involving Iran continue. Pakistan is reportedly hosting discussions aimed at easing tensions, though the U.S. blockade on Iranian ports remains in place.
Dan McTeague, president of Canadians for Affordable Energy, said the primary issue pushing prices upward is the ongoing shortage of oil supply in global markets. While oil prices showed slight easing during Tuesday trading, McTeague cautioned that Canadians could soon see gasoline prices cross the $2-per-litre mark nationwide if instability continues.
He added that some relief may arrive by Thursday if market conditions stabilize, though the outlook remains highly uncertain as geopolitical tensions continue to impact global energy markets.
