War with Iran has gas prices on the rise in Kamloops, Okanagan
The U.S. and Israel launched airstrikes against Iran this past weekend and Iran has effectively closed one of the biggest oil shipping lanes in the world.
The result is rising gas prices.
The tragedies of war might seem far away, but the economic impact has already reached B.C.
On Feb. 17, before tensions escalated to conflict, the cheapest gas price in Kelowna was $1.07.4 a litre. Today, March 4, it’s $1.54.9 at Super Save Gas, according to GasBuddy.com.
Vernon has seen a similar spike since two weeks ago when the cheapest gas was $1.07.9 and today it’s $1.35.8 at Canco.
Kamloops and Penticton haven’t seen the same kind of fluctuation.
The cheapest gas in Penticton on Feb. 17 was $1.31.9 and in Kamloops it was $1.29.9. Now, the cheapest gas prices are up to $1.44.9 at Gen7 in Penticton and in Kamloops it’s $1.37.9 at Costco.
Crude oil prices have jumped since the war with Iran began.
The price of the international standard Brent crude oil went from $71 USD per barrel on Feb. 27 to $81 USD per barrel today.
Click here for the latest on the war with Iran from The Associated Press.
News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
