Middle East escalation driving gas price hike in Saskatchewan | Globalnews.ca
Saskatchewan drivers are in for a unfortunate surprise after further escalation in the Middle East.
According to Devan Mescall, a professor specializing in accounting at the University of Saskatchewan, 30 per cent of the world’s oil makes its way through the Strait of Hormuz.
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With the supply being affected following the tensions in the Middle East, however, gas prices and other goods could be subject to inflation.
With unpredictability around how long the conflict will go on, it’s uncertain what the future effects on gas prices will be.
Sania Ali shares more details in the video above.