Key Points
- Gas prices, particularly diesel, are climbing throughout southwestern Ontario due to the ongoing Middle East conflict.
- Price hikes began overnight, reaching as high as $1.44 per litre for regular gas and nearly $1.80 for diesel by midday Wednesday in the London area.
- London motorist Christa Lockyer expressed surprise, stating, “It’s actually funny, because as soon as I was driving in, I was kind of feeling like, really? It’s started already.”
- Lockyer noted the increase of at least $0.20 to $0.25 per litre adds up significantly for drivers of compact cars.
- En-Pro Gas Analyst Roger McKnight described the situation as “a very difficult situation for the gas industry. We haven’t seen anything like this since the 1970s.”
- Matt McLain of GasBuddy.com warned, “There are so many potential scenarios in a war footing that could happen, which could move prices back and forth when it comes to crude oil and wholesale gasoline prices.”
- Carol Montreuil of the Canadian Fuels Association stated, “Certainly, when we look at the trend, the trend is upwards.”
- McKnight predicted pump prices would jump by eight cents if oil reaches $80 per barrel, and by 20 cents if it hits $100.
- Motorist Sam Biviano said, “People don’t have nearly as much money as they used to. So yeah, if I’m always filling on gas, it can be a struggle for some.”
- Lockyer added, “I mean, there is not a lot we can do, just pray I guess,” hoping for global changes to settle things down.
- Broader impacts include UK wholesale gas prices nearly doubling and Brent crude exceeding $80 amid US strikes on Iran.
- Canadian experts like McKnight reiterate uncertainty similar to 1970s oil crises.
London (Britain Today News) March 4, 2026 reports rising gas prices amid the escalating Middle East conflict on.
- Key Points
- Why Are Gas Prices Surging in London?
- What Do Experts Say About the Price Trend?
- How Is the Middle East Conflict Driving These Increases?
- What Are Londoners Doing to Cope?
- Will Prices Keep Rising, and When Might They Stabilise?
- How Does This Compare to Past Crises?
- What Broader Impacts Are Emerging?
Londoners are grappling with sharp increases in fuel costs, particularly diesel, as the conflict in the Middle East sends shockwaves through global energy markets. Overnight hikes pushed regular gas to $1.44 per litre and diesel to almost $1.80 in some spots by midday Wednesday, catching many drivers off guard.
Why Are Gas Prices Surging in London?
The rapid climb stems directly from the intensifying Middle East tensions, including US and Israeli airstrikes on Iran, disrupting oil supplies and spiking wholesale prices. As reported by BBC News, gas prices have spiked globally with UK benchmarks reaching levels not seen since the Ukraine war’s early days, and Brent crude briefly topping $85 per barrel.
In southwestern Ontario, the effects hit hard overnight. Christa Lockyer, a London motorist driving a compact car, told CTV News,
“It’s actually funny, because as soon as I was driving in, I was kind of feeling like, really? It’s started already!”
She highlighted the $0.20 to $0.25 per litre jump, stating, “which is a lot.”
Diesel fares worse, nearing $1.80 per litre, exacerbating costs for truckers and SUV owners. Sam Biviano, filling his small SUV, remarked to CTV News,
“People don’t have nearly as much money as they used to. So yeah, if I’m always filling on gas, it can be a struggle for some.”
What Do Experts Say About the Price Trend?
Industry analysts foresee continued upward pressure. Roger McKnight, En-Pro Gas Analyst, told CTV News,
“It’s a very difficult situation for the gas industry. We haven’t seen anything like this since the 1970s.”
Matt McLain with GasBuddy.com echoed the unpredictability, saying,
“There are so many potential scenarios in a war footing that could happen, which could move prices back and forth when it comes to crude oil and wholesale gasoline prices.”
Carol Montreuil of the Canadian Fuels Association was unequivocal to CTV News:
“Certainly, when we look at the trend, the trend is upwards.”
McKnight provided specifics, noting to CTV News that if oil hits $80 per barrel, pump prices rise eight cents per litre; at $100, it’s 20 cents.
As per OilPrice.com, UK gas prices nearly doubled this week alone amid the conflict, reflecting broader market volatility.
How Is the Middle East Conflict Driving These Increases?
The conflict, marked by US strikes on Iran since the weekend, has halted tankers through the Strait of Hormuz and doubled supertanker rates, per The Times and BBC reports. Ebrahim Jabbari, IRGC advisor, warned on state TV of serious responses to vessels, heightening fears.
In Canada, CTV News Montreal cited Montreuil clarifying the war’s limited direct impact but affirmed rising pump prices. Roger McKnight told CP24 the situation mirrors 1970s crises, with President Trump estimating four to five weeks duration—though McKnight questioned the basis.
Global ripples include US diesel at $4 per gallon and P.E.I. fuel climbs, as per CityNews and CBC.
What Are Londoners Doing to Cope?
Residents like Lockyer feel powerless. She told CTV News,
“I mean, there is not a lot we can do, just pray I guess,”
adding hopes
“that there will be changes in this world and that things will settle down.”
Biviano’s comments underscore budget strains:
“It is unsettling whether you’re on a budget or not,”
as he filled up. With factors beyond local control, most continue paying up amid uncertainty.
Will Prices Keep Rising, and When Might They Stabilise?
Experts like McLain stress unpredictability from war scenarios. McKnight called it “anybody’s guess” for US operations against Iran. Montreuil’s upward trend view aligns with global surges, per The Times warning of inflation spikes as petrol hits 132.9p per litre in the UK.
Canadian Fuels Association notes no precise predictions, but hikes are imminent. If crude sustains above $80, London prices could exceed current highs soon.
How Does This Compare to Past Crises?
McKnight draws parallels to the 1970s oil shocks, unseen since then. BBC notes UK gas at three-year highs post-Ukraine war. Ontario drivers recall past spikes, but this conflict’s speed surprises, as Lockyer noted.
Broader North American trends show Montreal potentially facing 10-cent spikes and GTA severe impacts.
What Broader Impacts Are Emerging?
Stock markets tumbled globally on fears, per BBC. The Times links to pensions, mortgages, and inflation risks. In Canada, cross-border refuelling occurs, but experts like McKnight anticipate no relief soon.
Heating oil spiked to 85p per litre in some areas, per BBC Newsline. Ontario’s AA-equivalent warns of duty cuts ending, compounding rises.
Londoners’ plight mirrors national strains, with no quick end in sight amid prayers for peace.
