The ongoing conflict in the Middle East has plunged gas prices into uncharted territory, with significant consequences for consumers across Canada. As of March 24, 2026, Windsor’s average gas price reached 177.9 cents per litre, reflecting a 12-cent increase from last week and a staggering 44-cent rise since before the war began. Meanwhile, Calgary’s average price stands at $1.756 per litre, showcasing a similar trend of escalating costs.
The fluctuations in gas prices are closely tied to the volatile global oil market, which saw a drop of more than 10 percent on Monday before rebounding on Tuesday. The Strait of Hormuz, a crucial passage for approximately 20-25 percent of the world’s oil supply, remains closed to most vessels due to ongoing threats from Iran. This geopolitical instability has led to heightened uncertainty in oil forecasting.
Patrick De Haan from GasBuddy remarked, “we’re in uncharted territory” regarding oil prices, emphasizing the unpredictable nature of the current situation. The conflict has already resulted in over 4,200 deaths, further complicating the global economic landscape.
Dan McTeague, an industry analyst, predicts a potential 10-cent drop in wholesale gas prices on Wednesday, suggesting that consumers may see some relief in the near future. However, he cautioned that this is contingent on the outcome of ongoing negotiations between the U.S. and Iran, which remain uncertain.
In the Ottawa Valley, prices have also been affected, with some areas reporting gas as low as $1.59.8 per litre. Yet, the overall trend indicates rising costs driven by global unrest. McTeague noted that the surge in prices stems from this unrest, highlighting the interconnectedness of geopolitical events and local fuel costs.
As consumers grapple with these rising prices, the uncertainty surrounding the timeline of gas price changes adds to the anxiety. The potential for further escalation or de-escalation in the conflict remains unknown, leaving many to wonder how long these fluctuations will persist.
Details remain unconfirmed regarding the exact impact of the ongoing negotiations and the future of oil supply routes. As the situation evolves, consumers and analysts alike will be watching closely for any signs of stability in the gas market.
