You thought the price at the pump was high now, just you wait.
News from on high today that the United States is set to enforce an oil embargo on Iranian crude as of next week, banning several major nations from purchasing the stuff from the middle eastern country.
GasBuddy.Com’s Dan McTeague says this, combined with output problems in Libya and Venezuela, means gas and diesel price are set to climb dramatically as early as Wednesday.
Get ready for a wild ride @ the ⛽️⛽️ 🇨🇦- With a US oil embargo set to take effect on all Iranian oil next week, OPEC/Russia cutbacks and output problems in Libya and Venezuela, gasoline and diesel prices are set to climb dramatically as early as Wednesday….— Dan McTeague (@GasBuddyDan) April 22, 2019
The United States announced Monday it is ending waivers to eight nations that allow the purchase of oil from Iran, despite a US-imposed embargo established in November. The United States Secretary of State says any country found violating the embargo will face sanctions of their own.
Related: Pump Up The Price
The price of gas across the province and the country rose considerably not long ago, with not only a Carbon Tax-affected increase in price, but also the switch to a more costly summer mix of fuel.