Gas prices Archives - National Times

22 Mar

Premier Danielle Smith Rules Out Immediate Gas Tax Relief Despite Rising Pump Prices

Rajeev Sharma0 CommentsAlberta, CanadaAlberta fuel tax, Danielle Smith, Fuel Tax Relief, Gas prices, Iran-US Conflict, provincial deficit, WTI oil

Edmonton (Rajeev Sharma): Alberta Premier Danielle Smith has advised Albertans not to expect immediate relief from provincial tax breaks at the gas pump, despite prices currently hovering around $1.60 a litre. Speaking on her Saturday radio program, Your Province, Your Premier, Smith explained that the recent surge in fuel costs is largely driven by global oil price volatility stemming from the ongoing conflict between the United States and Iran—factors she characterized as entirely out of the provincial government's control. The Premier’s cautious stance comes as the province prepares for the start of a new fiscal quarter on April 1. Under…

Canadian Gas Prices Surge as Middle East Conflict Rattles Global Oil Markets

Rajeev Sharma0 CommentsBusiness, CanadaBrent Crude, Canada, Gas prices, Middle East conflict, Oil market

Ottawa (Rajeev Sharma)— Motorists across Canada are facing a sharp spike in fuel costs this week as the escalating military conflict between the United States, Israel, and Iran continues to destabilize global energy markets. With the price of Brent crude oil briefly surging above US$84 per barrel—a jump of more than $10 since the onset of "Operation Epic Fury"—analysts warn that the current volatility could lead to a sustained period of high prices at the pump for Canadian households already struggling with an affordability crisis. The primary driver for the increase is the growing threat to the Strait of Hormuz,…

Global Oil Markets Shaken: Gas Prices Rise as Middle East Tensions Escalate

Rajeev Sharma0 CommentsBusiness, CanadaGas prices, inflation, Middle East conflict, Oil market, Strait of Hormuz

Ottawa (Rajeev Sharma): Canadian motorists are facing immediate pressure at the pumps this week as North American oil markets react to a significant escalation of conflict in the Middle East. Following a joint military operation by the U.S. and Israel against Iran on Saturday, concerns over the stability of global energy supply chains have sent crude prices on a volatile upward trajectory. The primary focus for market analysts is the Strait of Hormuz, a narrow yet vital waterway on Iran's southern border. Currently, approximately 20 per cent of the world's crude oil passes through this chokepoint. Over the weekend, several…