Diesel prices in Nova Scotia have surged more than 16 cents per litre in just one week, with a jump of over six cents reported in the latest increase. The sharp rise is being felt across Canada, as fuel costs continue to climb amid growing instability in the Middle East.
Drivers like Stacey Daley, who relies on diesel for his pickup truck, are feeling the sting at the pump. “That’s life and you just got to pay what you got to pay,” Daley said while filling his tank.
Gasoline prices are also on the rise, with a staggering 18-cent-per-litre spike in parts of northern Ontario. Nationally, the average gas price rose 5.7 cents this past week. For vacationers like John Romard, who drove from Kingston, Ontario to Halifax, the price difference has been hard to ignore. “I left gas prices at $1.04 a litre in Ontario,” said Romard. “I’ve been paying $1.41 since I got here, and they just went up again today.”
The ongoing conflict between Israel and Iran continues to disrupt global oil markets, fueling price volatility. Petroleum analyst Patrick De Haan said prices will likely stay elevated until tensions ease. “The trend will remain upward until there is either a halt in escalations or de-escalations,” De Haan noted. “The market may find some stability here as this has been ongoing for a week, so the market is no longer shocked by new developments.”
Long-haul truckers are especially vulnerable, as they often need to refuel multiple times a week. “It can go up $300 or $400 a week easily,” said Ontario-based trucker Mike Fontaine.
While large trucking companies can typically offset the increase through fuel surcharges, smaller independent drivers are often forced to absorb the extra cost themselves. “The price of diesel doesn’t have the same ramifications because of surcharge mechanisms,” explained Marco Beghetto of the Canadian Trucking Association. “But that mostly applies to larger carriers. Independent truckers are hit the hardest.”
With no immediate end to the global tensions in sight, Canadians should brace for more costly commutes and higher shipping costs in the weeks ahead.