This is Vanese Ferguson with Coffee Talk. So the issues with gas prices and high diesel fuel prices are not going away anytime soon. Of course the major factor impacting gas and diesel prices is the conflict between the U.S. and Israel with Iran. All of that is impacting the straight of Hormuz where 20 per cent of the world’s oil passes through. CNBC is reporting that according to the ship tracking firm Marine Traffic, two ultra large container vessels owned by China Ocean Shipping Company tried to pass through the Strait but were turned back. And while U.S. President Donald Trump has said he would pause attacks on Iran’s energy infrastructure until April 6th, it doesn’t appear Iran has responded to the possible olive branch. One oil analyst estimates nearly 17.8 million barrels per day of oil and fuel flows through the Strait of Hormuz and it has all been disrupted. But there are other factors. So then lets get closer to home. That oil has to be refined somewhere. The BP refinery in Whiting Indiana, locked out more than 800 union workers at midnight Thursday morning after the union couldn’t reach a contract agreement after months of negotiations. That refinery is BP’s largest refinery in the world. At a buck-74.9 a litre, the only place the price will go is higher. So get ready to buckle up because the ride is only getting bumpier. Experts say even if oil starts to move – the amount that has been disrupted will ripple through the system for significant period of time.
Where is the price of fuel going? Higher…
By Vanese M. Ferguson
Mar 27, 2026 | 8:44 AM
Saskatoon Weather
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