‘It’s started already!’: Londoners cope with rising gas prices amid Middle East conflict

Gas prices in the London area are on the rise due to the conflict in the Middle East. CTV London’s Sean Irvine reports.

Gas prices – particularly diesel – are climbing throughout southwestern Ontario.

Given the conflict in the Middle East, the jump was expected for many, just not so soon.

“It’s actually funny, because as soon as I was driving in, I was kind of feeling like, really? It’s started already,” said London motorist Christa Lockyer.

Indeed, price hikes began overnight and by midday Wednesday, the cost of a litre of regular gas was as high as $1.44 a litre in the London area.

Diesel climbed higher to almost $1.80 in some spots.

Lockyear, who drives a compact car, said it all adds up.

“I would say it’s been like at least $0.20 to $0.25 a litre, which is a lot.”

While the uncertainty of the conflict is a stress on consumers, it is also one for experts.

Throughout the course of this week, several have weighed in with CTV News.

“It’s a very difficult situation for the gas industry. We haven’t seen anything like this since the 1970s,” said Roger McKnight, an En-Pro Gas Analyst.

While Matt Mclain, with Gas Buddy.com, said, “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.”

Yet, when it comes to the direction prices are headed, Carol Montreui of the Canadian Fuels Association was clear.

“Certainly, when we look at the trend, the trend is upwards,” he stated.

McKnight told CTV News that if the price of a barrel of oil rises to $80, the price at the pumps will jump by eight cents. If it hits $100, the price you pay will rise by 20 cents.

It is unsettling whether you’re on a budget or not said Sam Biviano as he filled his small SUV.

“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,” he said.

Still, with the reasons for the price increase out of the control of Londoners, most have little choice but to pay up.

“I mean, there is not a lot we can do, just pray I guess” said Lockyer, who added she hopes “that there will be changes in this world and that things will settle down.”