The impacts of the US-Iran war are still being felt worldwide, but here in Waterloo Region, it can be felt at the pumps, with gas prices officially having jumped over 25 per cent since the beginning of 2026.
According to Canadians for Affordable Energy, the average high for gas on Monday sits at $1.75.9 per litre, which is 45 cents higher than what was reported as the average high in January, which sat at $1.30.9.
That 45-cent jump marks a 26 per cent increase so far in 2026.
In March alone, those prices have jumped by 40 cents, with the average high sitting at $1.35.9 per litre as of March 1.
For truck drivers and those relying on diesel, the news isn’t any brighter, with the average high sitting at $2.33.9 per litre as of March 23.
While those are the average highs, prices at pumps could be higher or lower depending on the specific location.
Experts say the conflict in Iran is directly causing turbulence at the pumps across Canada, particularly due to delays following the closure of the Strait of Hormuz, which has bottlenecked much of the world’s oil supply.
Those tensions are expected to continue, causing an upward trend in gas prices until further negotiations and talks head in a positive direction for the ongoing war.
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