Iran war continues to hurt the pockets of Canadian drivers as oil prices rise

As the war in Iran continues, its impacts continue to hurt the pockets of drivers here in Canada.

Gas prices have risen since the war broke out, with the price currently sitting at around $1.68 a litre. But the cost to drive your car isn’t the only transportation being affected.

For weeks drivers have had to watch the number on the screen rise and rise.

“We were averaging around $1.25, $1.30 before the Iran war started. We’re now seeing prices in the $1.50 to $1.70 range across Ontario,” said McMaster University economist Colin Mang.

On Upper James Street today, most of the gas stations were around $1.68 for gas, while diesel was over $2.

“It is really expensive. So keep your road trips to a minimum, you know,” said one Hamiltonian.

“I don’t know what’s going to happen in the future. Struggling is, you know, day by day,” said another local resident.

The high price of fuel is not only affecting drivers — airlines are dealing with surging jet-fuel prices, which could result in more expensive flight tickets.

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In a statement, WestJet said, “Fuel is the largest input cost for an airline. The recent sharp increase due to the situation in Iran has already made operating flights more expensive. Based on this, it’s likely further pricing adjustments may be needed.”

In a statement, Air Canada said, “Global jet‑fuel prices have surged in the past several days, creating increased cost pressure, and the situation is still highly volatile and unpredictable.”

And Porter Airlines also said in a statement: “Fares have recently increased to offset higher fuel prices. We are continually monitoring this situation and will make ongoing adjustments as required.”

“What we will see is higher airline prices for the next few months at least,” said Mang.

Mang also says the price of diesel may have an impact on deliveries.

“If you’re buying something online, having it delivered, or if you’re going to a store, all of that comes on a truck. And with diesel prices more than 30 per cent higher than they were just a few months ago, this is going to start to impact the cost of all of those goods,” said Mang.

Mang says as the war in Iran continues, we can expect to see high gas prices for at least the next few months.

READ MORE: Ride-share drivers in Canada feel the sting at pump amid conflicts in Middle East