"People need to worry about diesel prices because that is the fuel for which consumer goods and services are delivered. Every time there's a conflict in the Middle East, oil and fuel prices go up instantly, and transportation companies pass on the expenses, eventually making their way to the consumer, whether you're buying ketchup in the grocery store or metal parts to build an airplane."
"The average retail price of diesel reached $2.19 per litre this week, which is the highest price since 2022, when Russia invaded Ukraine. Diesel prices are much higher compared to regular gasoline, which is selling on average at the pumps for $1.75 per litre, according to Kalibrate Canada, a fuel data and analytics firm."
Diesel prices in Canada have climbed nearly 30 percent since the U.S.-Israel conflict with Iran began, reaching $2.19 per litre—the highest level since Russia's 2022 invasion of Ukraine. This significantly exceeds regular gasoline prices at $1.75 per litre. The spike threatens substantial economic consequences, as diesel fuels the transportation sector for trucks, trains, and barges. Farmers, trucking companies, and transit operators face immediate financial pressure. Transportation companies typically pass increased fuel costs to consumers through higher shipping expenses, affecting everything from grocery items to industrial parts. Regional price variations exist, with Chicoutimi, Quebec experiencing the highest average at $2.49 per litre and Grande Prairie, Alberta the lowest at $1.85. Experts warn these rising costs compound existing challenges from tariffs.
#diesel-price-surge #middle-east-conflict-impact #transportation-costs #consumer-price-inflation #canadian-energy-markets
Read at www.cbc.ca
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