Gas pumps showcasing high pricesA month ago, the average Canadian was paying around $1.28 a litre at the pumps for regular gas. The cause is clear: The war in Iran has disrupted tanker traffic through the Strait of Hormuz, the narrow waterway that normally carries about 20% of the world’s oil. For Canadian drivers, that means roughly $20 to $25 more every time they fill up their tanks. That means when global oil prices rise, a significant part of Canada’s economy benefits directly. For pension funds and investors with Canadian energy exposure, higher oil prices can mean better returns.

Source: CBC News April 12, 2026 15:29 UTC