Understanding the Impact of the Israel Conflict on Pump Prices: Insights from Canadians for Affordable Energy

2023-10-11 00:48:19

The increase in pump prices scheduled for Thursday has no link to the conflict in Israel, according to the president of the group “Canadians for Affordable Energy.”

The price of a liter of gasoline in Montreal should be $1.64.

• Read also: Gasoline is still too expensive in Quebec, according to CAA-Quebec

• Read also: Do all Palestinians support Hamas?

• Read also: “Everyone is afraid, everyone is going to look for water and food”: Canadian Palestinians fear for their loved ones

Furthermore, despite this conflict, he specifies that Quebecers should not suffer financial consequences in the coming days.

“I don’t think we’re going to see an increase in pump prices between now and next week. [en lien avec la guerre]. The only increase we are going to see is a 2¢ per liter from Thursday (…) This is because last week, we saw a fall that was too rapid and this increase will stabilize prices,” says Dan McTeague, president of the Canadians for Affordable Energy group.

However, if Iran supports the Hamas terrorist group, there might be long-term consequences.

“Iran has just announced that it has the potential to export up to four million barrels per day. Last year, it was two million barrels per day. If we see a link between Hamas and the regime in Iran, it is entirely possible that the United States and other countries will implement sanctions once morest Iran and this is a scenario that might have an impact on the price at the pump,” he explains.

This expert points out, however, that Iran produces only 3% of world production.

See these explanations in the video above.

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