Montreal gas prices surge 5 cents as Middle East tensions escalate
Regular petrol reached 186.9 cents Friday morning as U.S.-Iran attacks threaten the ceasefire. More increases expected over the weekend.
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Gas prices in Montreal climbed by more than 5 cents overnight as tensions between the U.S. and Iran escalated, threatening the ceasefire agreement.
Early Friday morning, most gas pumps in Montreal reported 186.9 cents for regular petrol and 232.9 cents for diesel, according to the Regie Essence Québec website. One consumer reported 187.9 cents at an Esso station in Nun's Island.
Both countries have accused each other of violating the ceasefire, particularly regarding commercial ship passage through the Strait of Hormuz. Crude prices shot up five per cent to US$78.10 a barrel Wednesday after U.S. President Donald Trump announced the interim agreement with Iran was over. By Friday morning, Brent Crude sat at US$75.92, compared to US$72.48 on Monday. More increases are expected over the weekend as oil markets react to the escalating conflict.
