Ottawa drivers may want to fill up sooner rather than later. Energy analyst Dan McTeague, president of Canadians for Affordable Energy, is warning that gas prices across Canada, including in the capital, could rise by as much as 12 cents per litre over a two-day period this week.
What the Numbers Look Like
According to McTeague, the increases are expected to roll out in two stages:
- Wednesday: A 6-cent-per-litre increase, pushing local prices to around $1.449
- Thursday: Another 6-cent jump on top of that
Diesel is expected to be hit even harder, with projections of a 13-cent spike Wednesday followed by a 15-cent increase Thursday: increases that would be felt well beyond individual drivers.
Why Prices Are Climbing
The driver behind the surge is geopolitical. Rising tensions in the Middle East are putting pressure on global oil markets, with particular concern around the Strait of Hormuz: a narrow but critical waterway through which roughly 20 percent of the world's oil supply passes.
Iran, which exports approximately 1.6 million barrels of oil per day, sits at the centre of that concern. Any disruption to Iranian exports or shipping through the strait would ripple quickly through global energy prices.
What This Means for Everyday Ottawa Residents
For most drivers, a 12-cent increase is noticeable but manageable in the short term. A typical 50-litre fill-up would cost about $6 more than it did last week.
The bigger concern is diesel. Because diesel powers the trucks, planes, and heating systems that underpin the broader economy, sustained price increases tend to push up costs for everyday goods. Groceries, deliveries, and home heating could all feel downstream pressure if diesel prices remain elevated.
Energy economists are watching the situation closely. If Middle East tensions ease, prices could stabilize or even dip. But if the conflict escalates, the pump prices Ottawans see this week may look modest by comparison.
For now, if you're planning a longer drive or road trip this weekend, it may be worth stopping to fill up before Wednesday morning.
Source: @shottawa.tv on Instagram
