Nova Scotia Gas Prices Soar Amid Ongoing Global Tensions

Nova Scotia residents are paying more at the pumps as geopolitical turmoil drives crude oil prices to their highest level in over a month.

The Nova Scotia Energy Board increased gas prices by 5.7 cents, bringing the price to $192.6 per litre. Diesel rose even higher to $233.0, with a 6.2-cent increase.

Experts have blamed the massive increases on the U.S.'s war with Iran, which has disrupted oil tanker shipments through the Strait of Hormuz and the Bab el-Mandeb Strait. Patrick De Haan, head of petroleum analysis at Gasbuddy, said the price could rise by another 5-10 cents over the next week or two as the full impact of the crude price jump works its way through the supply chain.