Long weekend gas prices likely to climb as Iran war fuels energy crunch

With the Easter long weekend approaching, Canadians hitting the road to see family and friends will likely be paying more at the pumps yet again.

While gas prices have risen rapidly since the war in Iran began, Patrick De Haan, a petroleum analyst at GasBuddy, cautions there likely isn’t much relief coming in the near future.

“The price of oil obviously made a big jump up today, up about 10 per cent and that is quite likely to fuel gas prices that continue to rise over the course of the weekend,” he said.

In addition, De Haan said diesel prices could potentially set a new record this weekend, saying prices are expected to surpass $2.25 in the next 48 hours.

“Canadians want a way to get out of the mess that we’re witnessing. They’re going to have to spend more on airfare because the price of jet fuel has nearly doubled,” he said. “From things that are part of the economy, diesel is that fuel.”

The national and regional average retail prices for gasoline are not yet available from Statistics Canada for March, the period directly after the U.S. and Israel first launched the war against Iran on Feb. 28.

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That updated data is expected on April 20, Statistics Canada says.

The Canadian Automobile Association (CAA) currently lists Canada’s national average for regular gas at 178.5 a litre at the time of publication, with the lowest price in the past month coming on March 3, 2026, with 134.2 a litre.

The costs heading into the long weekend stand in stark contrast to the average prices seen in February, though, as consumers continue to feel the pain of the energy crunch, spurring calls from the federal Conservatives for a cut on taxes for gas.

The price spikes come after Iran throttled shipping traffic through the Strait of Hormuz, and as countries around the world grapple with ways to get their citizens to drive less and work from home more.

According to Statistics Canada, these were the average retail prices for gasoline on a per-litre basis across Canada in February, before the war began.

• Alberta: Edmonton – 118.5, Calgary – 122.1
• British Columbia: Vancouver – 171.3, Victoria – 166.6
• Manitoba: Winnipeg – 123.3
• New Brunswick: Saint John – 134.7
• Newfoundland and Labrador: St. John’s – 144.3
• Nova Scotia: Halifax – 136.5
• Ontario: Ottawa-Gatineau – 131.5, Toronto – 132.2, Thunder Bay – 124.2
• Prince Edward Island: Charlottetown and Summerside – 147.5
• Quebec: Québec – 142.6, Montréal – 150.0, Ottawa-Gatineau – 131.5
• Saskatchewan: Regina – 127.3, Saskatoon – 123.3
• Northwest Territories: Yellowknife – 133.4
• Nunavut: (no number provided on Statistics Canada site)
• Yukon: Whitehorse – 148.9

De Haan said the harshest increases are being experienced in the Maritimes, British Columbia, Québec, Newfoundland and Nova Scotia.

“The markets that are more prone are markets where oil can be easily diverted elsewhere,” he said.

“Essentially, Canada and the coastal regions of Canada are having now to compete with oil and refined products like gasoline and diesel that can easily be shipped away from Canada.”

2:14 How the Iran war is draining Canadians’ wallets at the pump

However, De Hann also said that “inland areas” are not going to see prices as high and will experience”tamer” increases because “they’re less prone to having to compete on a global market.”

“Inland areas like Alberta are the cheapest. They have lower taxes, and that product can’t easily be exported.”

U.S. President Donald Trump did not mention the looming deadline he set for Iran to open the Strait of Hormuz in his first national address since the war in Iran started, after he threatened Iran earlier with U.S. attacks on its energy infrastructure if the strait was not reopened.

He did not offer a solution to end the supply disruptions that have sent energy prices soaring.

2:20 Business Matters: Oil prices soar following Trump’s national address on Iran war

De Hann said that this is why oil prices surged Thursday.

“The U.S. president has not come up with a plan to address the fact that the Strait of Hormuz is essentially blocked by the risk of attack by Iran, and oil prices, gasoline and diesel prices will probably continue to go up the longer that there’s really no plan in sight,” he said. 

Despite Canada’s insistence not to get involved with the war in Iran, De Hann said that the country will continue to feel the effects of the Strait’s closure.

“Canada doesn’t want to get drawn into the situation at hand. And until somebody figures out a way that ships can start sailing through the Strait, the global economy is going to continue to be impacted by a massive surge of diesel,” he said.

“This is very problematic, and it will continue to be problematic, and it’ll grow more problematic every day until it is addressed.”