Montreal gas prices climb by 5 cents with more expected as U.S.-Iran resume attacks

Gas prices in Montreal climbed by over 5 cents overnight as the U.S. and Iran traded attacks threatening to upend the ceasefire agreement.

Early Friday morning, many gas pumps in Montreal reported a price of 186.9 cents for regular petrol and 232.9 cents for diesel, according to the Regie Essence Québec website.

One consumer reported a price of 187.9 at an Esso station in Nun’s Island on the Essence Montréal site.

More increases are expected over the weekend.

Oil prices have been rising since tensions mounted once again in recent days in the Middle East. Both Iran and the U.S. have accused each other of violating the ceasefire agreement, especially, with regard to the passage of commercial ships through the Strait of Hormuz.

Crude prices shot up by five per cent to US$78.10 a barrel Wednesday after U.S. President Donald Trump said that the interim agreement with Iran was over.

On Friday morning, the Brent Crude price was at US$75.92, compared to US$72.48 on Monday.

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