{"id":344325,"date":"2026-06-02T00:41:53","date_gmt":"2026-06-01T19:11:53","guid":{"rendered":"https:\/\/ebiztoday.news\/?p=344325"},"modified":"2026-06-02T00:41:53","modified_gmt":"2026-06-01T19:11:53","slug":"gas-price-relief-could-have-been-short-lived-following-recent-strikes-on-iran-national","status":"publish","type":"post","link":"https:\/\/ebiztoday.news\/index.php\/2026\/06\/02\/gas-price-relief-could-have-been-short-lived-following-recent-strikes-on-iran-national\/","title":{"rendered":"Gas price relief could have been short-lived following recent strikes on Iran &#8211; National"},"content":{"rendered":"<p><\/p>\n<div id=\"\">\n<p>Gas prices in Canada are expected to start out climbing again as any progress made towards a peace deal between the U.S. and Iran appears to be unravelling.<\/p>\n<p>Consumers should expect to \u201cdig a little bit deeper\u201d into their wallets, in response to a gas price expert.<\/p>\n<p>\u201cA rude slap to the face to start out the work week is that the trade deal is now off the table, and we\u2019re sort of back at it. Ground zero starting throughout, and the U.S. is just not any closer to a peace deal than it was per week and a half ago,\u201d says petroleum analyst Patrick De Haan at GasBuddy.<\/p>\n<p>Global oil markets have been surging ever since shipping traffic was virtually halted within the Strait of Hormuz when the conflict began at the top of February.<\/p>\n<p>Prices for consumer gasoline saw some relief over the past few weeks as a peace deal was reportedly being negotiated, which raised hopes that oil shipments could begin flowing again through the strait and supply some meaningful relief.<\/p>\n<div class=\"c-ad c-ad--bigbox l-article__ad\">\n<p>Story continues below commercial<\/p>\n<\/p><\/div>\n<p>But that price relief could have been short-lived.<\/p>\n<p>\u201cIf there is no such thing as a deal, then we&#8217;re probably worse off each day that this continues in comparison with where we were per week and a half ago, when it appeared like a deal was on our doorstep,\u201d says De Haan.<\/p>\n<p>\u201cSo for motorists, they\u2019re going to need to dig a little bit deeper again this week.\u201d<\/p>\n<div class=\"l-article__part\" data-shortcode=\"related_videos\">\n<div class=\"l-inlineStories l-inlineStories--video\">\n<p>\n\t\t\t\t\t\t<span class=\"l-inlineStories__title\">Related Videos<\/span>\n\t\t\t\t\t<\/p>\n<section id=\"miniplayer-carousel\" class=\"l-videoCarousel l-videoCarousel--embed c-carousel\" data-video-carousel-play-inline=\"true\" data-video-carousel-init=\"false\" aria-label=\"Video carousel contains 5 videos.\">\n<div class=\"l-videoCarousel__inner\">\n<div class=\"l-videoCarousel__featured\">\n<div class=\"c-video c-videoPlay \" data-iframe-receiver=\"\" data-autoplay=\"\" data-displayinline-featured=\"true\" data-displayinline-type=\"video\" data-displayinline-player-id=\"miniplayer\" data-displayinline-video-id=\"11874327\" data-displayinline-ratio=\"16:9\" data-displayinline=\"https:\/\/globalnews.ca\/video\/embed\/playlist\/11874327,11858450,11858445,11855307,11852830\/?poster=https%3A%2F%2Fi1.wp.com%2Fmedia.globalnews.ca%2Fvideostatic%2Fnews%2Fg4eo9ycowc-6dqvfzzrnl%2FGAS_RETAIL_MARKUP_FOLLOW_GANNON_WEB.jpg%3Fw%3D1200%26quality%3D70%26strip%3Dall#autoplay&#038;stickyiframe=miniplayer\" data-displayinline-playlist=\"11874327,11858450,11858445,11855307,11852830\" data-displayinline-sticky=\"true\" data-permutive-data='{\"content\":{\"name\":\"Retail markup for gas and diesel due to high credit card usage\",\"type\":\"video\",\"sections\":[\"videos\",\"halifax\",\"consumer\",\"economy\",\"money\",\"traffic\"],\"keywords\":[\"business\",\"credit-cards\",\"finance\",\"gas-prices\",\"nova-scotia-energy-board\",\"short-clip\",\"travel\",\"global-news-at-6-halifax\"],\"iab\":{\"categories\":[\"Business and Industrial\",\"News\/Business News\",\"Business and Industrial\/Energy and Utilities\",\"News\",\"Business and Industrial\/Energy and Utilities\/Oil and Gas\"],\"tags\":[\"Associated Press\",\"Average\",\"Ballistic missile\",\"Barrel (unit)\",\"Blockade\",\"Canada\",\"Canadian dollar\",\"Consumer\",\"Dan McTeague\",\"Diesel fuel\",\"Donald Trump\",\"Filling station\",\"Gas\",\"GasBuddy\",\"Gasoline\",\"Global News\",\"Iran\",\"Islamic Republic of Iran Broadcasting\",\"Israel\",\"Kuwait\",\"Lebanon\",\"Litre\",\"Missile\",\"Montreal\",\"Nothing\",\"Oil\",\"Petroleum\",\"Price of oil\",\"Republican Party (United States)\",\"Stalemate\",\"Strait\",\"Strait of Hormuz\",\"Tehran\",\"Texas\",\"The Boy Who Cried Wolf\",\"Trade\",\"United States\",\"West Texas\",\"West Texas Intermediate\",\"Wolf\",\"World Trade Center site\"]}}}'>\n<div class=\"c-video__inner \">\n\t\t\t\t\t<span class=\"c-video__placeholder\"><br \/>\n\t\t\t\t\t\t<img decoding=\"async\" class=\"c-video__image\" alt=\"Click to play video: 'Retail markup for gas and diesel due to high credit card usage'\" width=\"640\" height=\"360\" src=\"https:\/\/i1.wp.com\/media.globalnews.ca\/videostatic\/news\/g4eo9ycowc-6dqvfzzrnl\/GAS_RETAIL_MARKUP_FOLLOW_GANNON_WEB.jpg?w=1040&#038;quality=70&#038;strip=all\" loading=\"lazy\" srcset=\"\" sizes=\"auto, \" data-sizes=\"(min-width: 1040px) 1040px,(min-width: 720px) 720px,450px\"><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"c-video__overlay\"><\/p>\n<p>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<time class=\"c-video__duration\">2:02<\/time><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"c-video__title\">Retail markup for gas and diesel because of high bank card usage<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t\t<\/span><br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"l-videoCarousel__glide glide \">\n<div class=\"glide__arrows c-carousel__buttons l-videoCarousel__buttons\" data-glide-el=\"controls\">\n\t<button class=\"glide__arrow glide__arrow--left c-carousel__button c-carousel__prev l-videoCarousel__button l-videoCarousel__prev c-longform-gallery__prev\" data-glide-dir=\"<\"><\/p>\n<p>\t\t<span class=\"sr-only\">Previous Video<\/span><br \/>\n\t<\/button><br \/>\n\t<button class=\"glide__arrow glide__arrow--right c-carousel__button c-carousel__next l-videoCarousel__button l-videoCarousel__next c-longform-gallery__next\" data-glide-dir=\">&#8220;><\/p>\n<p>\t\t<span class=\"sr-only\">Next Video<\/span><br \/>\n\t<\/button><br \/>\n\t\t<button class=\"c-carousel__goto\" data-glide-dir=\"=0\" aria-hidden=\"true\" tabindex=\"-1\"><\/button>\n\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t\t<!-- video stream item --><\/p>\n<\/section><\/div>\n<\/p><\/div>\n<p>On May 29, U.S. President Donald Trump said in a social media post that a U.S. blockade on the Strait of Hormuz \u201cwill now be lifted,\u201d contingent on Iran agreeing to terms of a peace deal.<\/p>\n<div class=\"c-inlineSignup\" data-newsletter-inline=\"\">\n<div class=\"c-inlineSignup__image\">\n\t\t\t\t\t<img decoding=\"async\" width=\"170\" height=\"225\" loading=\"lazy\" src=\"https:\/\/globalnews.ca\/wp-content\/themes\/shaw-globalnews\/images\/skyline\/national.jpg\" alt=\"Get daily Canada news delivered to your inbox so you'll never miss the day's top stories.\">\n\t\t\t\t<\/div>\n<div class=\"c-inlineSignup__content\">\n<h2 class=\"c-inlineSignup__title\">Get day by day National news<\/h2>\n<p>Get day by day Canada news delivered to your inbox so you may never miss the day&#8217;s top stories.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>CAA says the national average for normal grade gasoline currently sits at about CAD$1.69 per litre as of publication. That\u2019s down from $1.81 per week earlier, and $1.90 on May 6.<\/p>\n<div class=\"c-ad c-ad--bigbox l-article__ad\">\n<p>Story continues below commercial<\/p>\n<\/p><\/div>\n<p>But on Monday, the U.S. said it had struck several targets in Tehran, and Iran responded by attacking targets within the region, where Kuwait reported incoming fire.<\/p>\n<p>Iranian state television later shared footage of the ballistic missile launch, including a close-up showing a sticker on its body depicting a bruised U.S. President Donald Trump overlaid on a \u201cclosed\u201d Strait of Hormuz with the caption: \u201cUntil the last American soldier leaves the region.\u201d<\/p>\n<p>Oil prices have been surging in response.<\/p>\n<p>As of publication, U.S. crude oil, referred to as West Texas Intermediate (WTI), was hovering at over US$94 per barrel, and that\u2019s up roughly nine per cent from as little as $86 on May 29.<\/p>\n<p>\u201cOil prices had dropped precipitously the last couple of weeks based on U.S. President Trump saying that a deal may very well be close and imminent,\u201d says De Haan.<\/p>\n<div class=\"c-tabs\">\n<p>\n\t\t\t<button role=\"tab\" class=\"c-tabs__tab c-tabs__tab--active\" type=\"button\">More on Consumer<\/button><br \/>\n\t\t\t<button role=\"tab\" class=\"c-tabs__tab\" type=\"button\">More videos<\/button>\n\t\t<\/p>\n<\/p><\/div>\n<p>\u201cBut then over the weekend Iran decided to walk away highlighting recent Israeli attacks on Lebanon and oil prices are going right back to where they were prior to all of the hopes and dreams over a U.S.-Iran deal.\u201d<\/p>\n<div class=\"l-article__part\" data-shortcode=\"tp_video\">\n<div class=\"c-video c-videoPlay \" data-iframe-receiver=\"\" data-autoplay=\"\" data-displayinline-featured=\"false\" data-displayinline-type=\"video\" data-displayinline-player-id=\"miniplayer_11798340_6a1dd79c41194\" data-displayinline-video-id=\"11798340\" data-displayinline-ratio=\"16:9\" data-displayinline=\"https:\/\/globalnews.ca\/video\/embed\/11798340\/#autoplay&#038;stickyiframe=miniplayer_11798340_6a1dd79c41194\" data-displayinline-sticky=\"true\" data-permutive-data='{\"content\":{\"name\":\"Overall cost of living heavily impacted by war fuelled gas price hike\",\"type\":\"video\",\"sections\":[\"videos\",\"bc\",\"canada\",\"consumer\",\"economy\",\"traffic\",\"world\"],\"keywords\":[\"bc-cost-of-living\",\"bc-gas-prices\",\"cost-of-living\",\"gas\",\"gas-prices\",\"international\",\"iran\",\"middle-east\",\"short-clip\",\"strait-of-hormuz\",\"top-news\",\"war-in-the-middle-east\",\"global-news-hour-at-6-bc\"],\"iab\":{\"categories\":[\"Business and Industrial\",\"News\/Business News\",\"Business and Industrial\/Energy and Utilities\",\"News\",\"Business and Industrial\/Energy and Utilities\/Oil and Gas\"],\"tags\":[\"Associated Press\",\"Average\",\"Ballistic missile\",\"Barrel (unit)\",\"Blockade\",\"Canada\",\"Canadian dollar\",\"Consumer\",\"Dan McTeague\",\"Diesel fuel\",\"Donald Trump\",\"Filling station\",\"Gas\",\"GasBuddy\",\"Gasoline\",\"Global News\",\"Iran\",\"Islamic Republic of Iran Broadcasting\",\"Israel\",\"Kuwait\",\"Lebanon\",\"Litre\",\"Missile\",\"Montreal\",\"Nothing\",\"Oil\",\"Petroleum\",\"Price of oil\",\"Republican Party (United States)\",\"Stalemate\",\"Strait\",\"Strait of Hormuz\",\"Tehran\",\"Texas\",\"The Boy Who Cried Wolf\",\"Trade\",\"United States\",\"West Texas\",\"West Texas Intermediate\",\"Wolf\",\"World Trade Center site\"]}}}'>\n<div class=\"c-video__inner \">\n\t\t\t\t\t<span class=\"c-video__placeholder\"><br \/>\n\t\t\t\t\t\t<img decoding=\"async\" class=\"c-video__image\" alt=\"Click to play video: 'Overall cost of living heavily impacted by war fuelled gas price hike'\" width=\"640\" height=\"360\" src=\"https:\/\/i0.wp.com\/media.globalnews.ca\/videostatic\/news\/ejudx5veye-4nzn1pzxct\/WEB_gas_PIC.jpg?w=1040&#038;quality=70&#038;strip=all\" loading=\"lazy\" srcset=\"\" sizes=\"auto, \" data-sizes=\"(min-width: 1040px) 1040px,(min-width: 720px) 720px,450px\"><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"c-video__overlay\"><\/p>\n<p>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<time class=\"c-video__duration\">1:53<\/time><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"c-video__title\">Overall cost of living heavily impacted by war fuelled gas price hike<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t\t<\/span><br \/>\n\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Higher prices for crude oil almost all the time end in costlier gasoline for consumers.<\/p>\n<div class=\"c-ad c-ad--bigbox l-article__ad\">\n<p>Story continues below commercial<\/p>\n<\/p><\/div>\n<p>So how way more should Canadians expect to pay?<\/p>\n<p>De Haan says Canadians should expect gas prices to rise between five and 15 cents per litre in the approaching days and weeks, depending on the actual region. He adds that diesel prices could also be slower to answer these recent developments.<\/p>\n<p>In the long term, De Haan says frustration is mounting on consumers and global markets alike, not only with the geopolitical tensions, but in addition the uncertainty of when the conflict could ease \u2014 if in any respect.<\/p>\n<p>\u201cThis may be very much the boy who cried wolf, the president who declared a deal and each single time of the 3 times this has now happened, we\u2019ve seen nothing coming of it,\u201d he says.<\/p>\n<p>\u201cThat would come back to haunt the president especially within the months ahead, as many within the Republican party, his own party, are growing concerned with the prospects of the midterm elections and elevated gas prices that also could reach record levels this summer.\u201d<\/p>\n<p><em>\u2013with a file from the Associated Press<\/em><\/p>\n<\/p><\/div>\n<div>\n<p>\n\t\t&#038;copy 2026 Global News, a division of Corus Entertainment Inc.\t<\/p>\n<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gas prices in Canada are expected to start out climbing again as any progress made towards a peace deal between the U.S. and Iran appears to be unravelling. Consumers should expect to \u201cdig a little bit deeper\u201d into their wallets, in response to a gas price expert. \u201cA rude slap to the face to start [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":344326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20691],"tags":[6021,15256,1903,5858,15265,17795,11344],"class_list":["post-344325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-gas","tag-iran","tag-national","tag-price","tag-relief","tag-shortlived","tag-strikes"],"aioseo_notices":[{"message":"The permalink for this post just changed! 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