Date: March 6, 2026 l Reporter: Mensah
Drivers across the Greater Toronto Area are expected to pay more at the pump as fuel prices continue to rise amid the escalating conflict involving Iran and other powers in the Middle East.
Industry analysts say gasoline prices in Toronto are set to increase by about six cents per litre, bringing the average price to roughly 152.9 cents per litre at many local stations. The increase marks a sharp jump in prices within a short period and reflects the growing instability in global oil markets.
Energy experts say the surge is largely driven by geopolitical tensions in the Middle East, where ongoing military confrontations have raised fears of supply disruptions from one of the world’s most critical oil-producing regions. When conflict threatens oil production or shipping routes, global crude prices often rise rapidly, and those increases eventually reach consumers at the pump.
The conflict has already pushed crude oil prices significantly higher in recent days as traders anticipate potential disruptions to energy supplies from the Persian Gulf. Analysts warn that if the situation escalates further, global energy markets could face additional volatility and higher fuel costs.
The Middle East plays a central role in the global energy system, with large volumes of crude oil transported through the Strait of Hormuz, a key shipping route responsible for a significant share of the world’s oil trade. Any threat to this corridor can trigger immediate reactions in energy markets.
Price-tracking data also shows that fuel costs across Canada have already increased by several cents since military actions and retaliatory strikes began in the region. As the war continues, analysts say drivers could see additional increases in the coming weeks.
Motorists in Toronto and across Canada are therefore being warned to prepare for continued fluctuations in gasoline prices while the geopolitical situation remains uncertain.
Energy market observers say the trajectory of fuel prices will largely depend on how the conflict unfolds and whether global oil supply routes remain open in the weeks ahead.